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The true bottleneck in Ethereum dApp architecture isn't just on-chain gas, it's the off-chain infrastructure required to read the state. When protocols are designed without considering how data is indexed, they force massive hardware and cost requirements onto the ecosystem.

The Blind Spot of Internal Transfers: Standard contract-to-contract ETH transfers (call{value: x}()) don't emit logs. Because they bypass block bloom filters, standard node queries like eth_getLogs miss them entirely.

Trade-off: To index these reliably without protocol-level changes, you are forced into EVM tracing (debug_traceTransaction). This is incredibly I/O heavy, essentially requiring dedicated archive nodes or premium RPC tiers. Emitting custom on-chain events for internal transfers is a critical architectural pattern if you develop your own protocol that you want to monitor, it shifts the burden away from expensive execution traces and local state simulations, saving infrastructure operators massive overhead.

Infrastructure Resilience vs. WebSockets: For low-latency dApps, eth_subscribe over WebSockets is the standard. However, long-lived WS connections are notoriously flaky and silently drop packets, leading to degraded, out-of-sync frontends.

Architecture standard: A resilient Ethereum stack requires a hybrid model. Maintain the WS connection for real-time mempool and head-of-chain detection, but always run a background worker polling eth_getLogs with a sliding block window to patch missed events during WS reconnects.

JSON-RPC Network Overhead: Spamming nodes with individual read requests congests RPCs. MulticallV3 batching is mandatory for minimizing network round trips.

Trade-off: When wrapping complex calls, using tryAggregate handles partial successes gracefully. However, it significantly increases EVM execution cost due to internal CALL overhead and memory expansion when capturing return data you might discard. If your batch loop is too large, you will hit the strict execution timeouts or global eth_call gas caps enforced by commercial RPCs, causing the node to drop the entire request.

Source/Full Breakdown:https://andreyobruchkov1996.substack.com/p/ethereum-dev-hacks-catching-hidden-transfers-real-time-events-and-multicalls-bef7435b9397

I'm looking to swap my ETH with minimal slippage/fee. I'm trying to swap/bridge ETH to Base USDC actually but it shows -3% on the expected outpout amount.

Which platforms or aggregators (must be DEX) give the best price without losing too much to slippage or fees?

Hey all!

Since my earlier post I've been rebuilding from the ground up, and your feedback helped shape everything.

ETour V2 is simpler, faster, and more flexible:

1) You can now configure your own lobbies with anywhwere between 2 and 32 players. And you can choose the entry fee per-player, from $0.20 up to 1 ETH.

2) Moves happen in sub-1s (down from ~10s).

3) The fee structure is cleaner too: 95% straight to the winner, and 5% is my cut. No confusing raffle mechanics. And the winner gets more, winner's cut in V1 was only 90% of the pot, now it's 95%!

4) I also put together two docs: a focused whitepaper that explains the why, and a thorough user manual that answers every how question.

Further, and very importantly, V2 positions ETour as the perfect platform to play games on-chain over ETH stakes with no middlemen with your friends, crew, or community, rather than a place for random online matchmaking. Which is more honest about what ETour is good at.

Happy to answer your questions!

Misc:

• https://etour.games
• https://etour.games/whitepaper
• https://etour.games/manual
• All contracts are verified and available in the footer

Welcome to the Daily General Discussion on r/ethereum

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Where is everyone trading/storing their crypto specifically eth? I currently am in crypto.com and having issues. I want to pull all my positions and move to another platform. I currently have WeBull and fidelity but don’t want to cram too much into fidelity as I like my eggs spread out. Which platform would you recommend?

Welcome to the Daily General Discussion on r/ethereum

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Why are we still copy-pasting 40-character wallet addresses in 2026?

Idea: you do a small test transfer once → both wallets get a shared avatar/character. Next time you send, you just recognize the person visually instead of relying on the address.

Kind of like “pairing” wallets.

Would this actually reduce mistakes or scams, or is this unnecessary given things like ENS?

People ask this a lot and most answers are either too optimistic or outdated. Here's what actually works day to day.

Direct crypto payments (limited but real) - A small number of merchants accept crypto directly via BitPay or CoinGate. Shows up at checkout alongside card/PayPal. Works in tech, gaming, VPN, some travel. Still niche.

Crypto debit cards (most practical for daily use) - Platforms issue Visa/Mastercard cards linked to your crypto account. Spend anywhere that takes Visa, crypto converts to fiat at point of sale. Usually comes with some cashback in platform tokens. Works fine for everyday spending.

Stablecoins for transfers - Sending money internationally or paying someone who accepts USDC/USDT is genuinely fast and cheap vs bank wire. More useful than people think for freelance/remote work.

Gift cards via Bitrefill (underrated) - Buy gift cards from Amazon, Airbnb, Uber, Steam using crypto. Works everywhere those retailers are accepted. Not seamless but surprisingly broad coverage.

Honest reality in 2026: most people still convert to fiat first. Crypto debit cards are the closest thing to seamless daily spending. Several platforms are building bank-integrated crypto cards - worth watching which ones actually ship.

What's your setup for spending crypto day to day? Anyone found something that genuinely feels frictionless?

Welcome to the Daily General Discussion on r/ethereum

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Please use this thread to discuss Ethereum topics, news, events, and even price!

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We recently recorded a PEEPanEIP session on EIP-7904, joined by Jacek Sieka and Maria Inês Oliveira.

The conversation covers:

• Motivation behind the proposal
• Key design considerations
• Potential impact on the Ethereum ecosystem
• Open questions and areas for feedback

The goal of PEEPanEIP is to make EIPs more accessible and easier to follow for the broader community - especially for those who may not be deep in the specs but want to stay informed.

???? Watch the full video https://youtu.be/CswFnsZTXmI

Would love to hear thoughts from others following EIP-7904 or working in similar areas - feedback and perspectives welcome.

Welcome to the Daily General Discussion on r/ethereum

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Two months after Ethereum mainnet launched, Vitalik deployed a 3-contract on-chain arbitration system written in Serpent. We just verified all three with exact bytecode matches.

The contracts:

ArbiterRegistry (0x82afa2c4, block 301,954 - Sep 28, 2015)

Arbiters pay 1+ ETH to list themselves as dispute mediators. The fee decays 50% per month using a 3rd-order Taylor series approximation, so inactive arbiters fall in the rankings automatically. Hardcoded EF withdrawal address. Someone called register() again in 2024 - still works.

Arbitration (0xe881af13, block 303,316 + 0x7e2d0fe0, block 318,029)

Smart escrow with designated arbiters. Two parties create a contract, designate arbiters, and funds auto-transfer when >50% of arbiters vote. Both parties can also instantly surrender to the other side. Vitalik tested it from both his dev address and vitalik.eth.

The forensics:

The source Vitalik later committed to ethereum/dapp-bin had one line wrong vs what he actually deployed. The ArbiterNotification log had its indexed arguments in reversed order. He fixed the arg order in git after shipping. The chain preserved the original - we had to catch that divergence to get an exact match.

How we verified it:

Not decompilation. We compiled forward: found the source in ethereum/dapp-bin, identified the exact Serpent compiler commit used (e5a5f875, Sep 26 2015), compiled it, and compared output byte-for-byte against the on-chain code.

Full docs + live contract interaction (ABIs published): - https://ethereumhistory.com/contract/0x82afa2c4a686af9344e929f9821f3e8c6e9293ab - https://ethereumhistory.com/contract/0xe881af13bf55c97562fe8d2da2f6ea8e3ff66f98

Verification repos: - https://github.com/cartoonitunes/arbiter-reg-verification - https://github.com/cartoonitunes/arbitration-verification

EthereumHistory is a free archive - if you find this useful, you can support it at ethereumhistory.com/donate

If you are trying to buy ZCHF, you might not find it on normal crypto apps. It is not listed on big exchanges, so it can feel confusing at first.

Most people buy it from Uniswap on Ethereum. That’s where you will usually find better trading activity. Sometimes it is also available on Curve, but it depends on how much liquidity is there.

How to buy ZCHF

The process is simple once you understand it. You need a wallet like MetaMask and some ETH in it for fees. Then you connect your wallet to Uniswap and swap your tokens for ZCHF.

Before you confirm, just check the price and details once. In DeFi, there is no support if something goes wrong, so it’s better to go slow and be careful.

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With all the discussion around L2 fragmentation lately (EEZ announcement, Superchain, AggLayer), I wanted to share something I've been working on that addresses the problem from a different angle.

The issue: every rollup ships its own proof system - Groth16, STARK, Plonk, Halo2, Nova - each needing a separate on-chain verifier at 200k+ gas. Some require trusted setup ceremonies.

GLYPH is a universal transparent verification layer that compiles any proof into a common intermediate representation (UCIR) and verifies it through a single on-chain contract.

What it does:

- Verifies any major proof system through one verifier

- <30k gas per on-chain verification (~7.5x cheaper than Groth16 alone)

- No trusted setup - fully transparent

- Supported: Groth16, KZG, IPA, Plonk, Halo2, STARK (Winterfell, Miden, Cairo/Stone, Circle STARK, Stwo), Nova/HyperNova/Sangria/SuperNova (IVC), SP1, Plonky2/3, Binius

How it works:

- Packed arity-8 sumcheck over p = 2^128 - 159

- Chain-bound Keccak256 Fiat-Shamir challenges

- BaseFold PCS

- On-chain verifier in pure Solidity assembly

- Formal proof pack with soundness bound ~1.88 x 10^-37

Tested on Sepolia + Hoodi. Benchmarks included and reproducible.

Everything is open source under MIT:

- Full Paper: https://doi.org/10.5281/zenodo.18792566
https://hackmd.io/@ChristopherSchulze/glyph-zk

- Code: https://github.com/Christopher-Schulze/glyph-zk

I know the on-chain assembly verifier needs a proper audit before anyone touches it in production - that's on the roadmap.

Would love feedback from the community.

Happy to answer any questions about the architecture or design decisions.

Google’s new research is basically saying the quantum threat may be less distant than people assumed. Not an “Ethereum is doomed” story, but definitely a reminder that post-quantum migration may become a much more serious issue across crypto sooner than expected

Do you think Ethereum is actually positioned well for a transition like that, or is the ecosystem still underestimating how hard this would be?

I've been all over daily threads for the last two weeks, and some of those really nice folks have been having fun with this little game dapp that I built. I call it Stupid Games, because you play really easy, simple games, but get to win awesome real ETH prizes!

It's an arcade type game platform, full of crypto memes, that pays out real ETH prizes to the winners. All managed by smart contracts of course.

I'm creating a beginner friendly, mini tournament just for this sub. No players from the current Leaderboard allowed! And when I say beginner, I mean JT level beginner like from the Daily Doots Podcast #143! Lol! No offence JT ????

Its free, no gas, no cash, just real fun! The prize is $20 or more, but more than that, its bragging rights to be the king of this hill. It's even got a Burner Wallet login, so you know it's not sus. More dapps should do that right?

If you want to give it a shot, there's only space for 9-10 players, so drop your [burner] address and I'll let you in.

The FLY game is similar to Flappy Bird, and the SHOOT game is similar to Asteroids. Try them and pick your vibe.

So what's in it for me? I worked hard on the app and really want to see it being used. I also think it's genuinely fun when you get it. Plus, I took a job break and built it as a porfolio piece so I would love to get feedback. Many features were actually suggestions from users on the daily threads, which I appreciate so much (Alexis and Tricky)! Any and all feedback/criticism welcome. Questions too!

Chips are ERC20 tokens but 1:1 exchangeable for 0.0001 eth from the contract. No promotion of any product in this post. No monetary gain for me, only loss ????!

Play Stupid Games, Win Awesome Prizes!

https://reddit.com/link/1s8gw8d/video/us22jk9r2csg1/player

https://reddit.com/link/1s8gw8d/video/9zhhtl9r2csg1/player

ZCHF is a decentralized stablecoin that is designed to track the value of the Swiss franc (CHF). Unlike popular stablecoins like USDT or USDC that are pegged to the US dollar, ZCHF is pegged 1:1 to Switzerland’s currency.

It is issued by the Frankencoin protocol and operates on blockchain infrastructure, which means it doesn’t rely on traditional banks in the same way centralised stablecoins do. Instead, it uses a system of collateral and smart contracts to maintain its value.

Why People Are Talking About It

Interest in ZCHF has increased after Vitalik Buterin recently swapped a significant amount of USDC into ZCHF. Moves like this bring attention to the idea that DeFi may not stay centered only around the US dollar.

Welcome to the Daily General Discussion on r/ethereum

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Curious how many people here have made this mistake at least once. Sending an ERC20 token but picking the wrong network, or mixing up chains like sending to a non-compatible address.

It’s one of those errors that feels small in the moment but can turn into a real headache depending on where the funds land. Sometimes recoverable, sometimes not.

What’s your experience with this? Did you manage to recover the funds or was it a total loss? And what habits or checks do you use now to avoid it happening again?

Hey everyone,

Over the last four years of writing smart contracts and teaching these concepts in EVM bootcamps, I keep seeing teams stumble into the exact same architectural traps when trying to achieve cross-chain address parity.

Leveraging CREATE2 for deterministic addresses fundamentally changes how we handle multi-chain deployments. But because init_code includes constructor arguments, maintaining that exact same address across chains is impossible if you need to pass in chain-specific variables (like local router addresses or bridge endpoints).

The standard industry workaround is deploying EIP-1167 Minimal Proxies via a universal factory, deploying deterministically, then initializing the state in the same transaction. However, this introduces some severe trade-offs that often get overlooked until they hit production:

1. The DELEGATECALL Gas Tax: Minimal proxies are incredibly cheap to deploy (~45 bytes of bytecode), but they add a DELEGATECALL overhead to every single execution (2600 gas cold, 100 warm). At scale, this execution cost compounds brutally for your users.
2. MEV Front-running Risks: If your proxy deployment and initialize() call are not strictly atomic within the factory contract execution, MEV bots might front-run the initialization transaction. This either bricks the instance entirely or hijacks the contract ownership.
3. Immutability vs Upgradeability: To retain the exact same address while upgrading logic, you have to wrap the implementation in UUPS or Transparent Proxies. This inflates the initial deployment cost and introduces strict storage collision risks (requiring flawless adherence to EIP-1967 storage slots).

I just published a full breakdown of these mechanics on my blog, diving into the math behind the gas trade-offs and how patterns like CREATE3 are solving the issue for non-proxy contracts where constructor arguments must differ.

If you are currently architecting a multi-chain protocol, you can read the full technical deep dive here:https://andreyobruchkov1996.substack.com/p/understanding-contract-deployments-proxies-and-create2-part-2-df8f05998d5e

Would love to hear how you all are handling cross-chain deterministic deployments right now. Are you still relying heavily on customized off-chain salt-mining scripts, or have you migrated to CREATE3 wrappers?

Welcome to the Daily General Discussion on r/ethereum

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Please use this thread to discuss Ethereum topics, news, events, and even price!

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Welcome to the Daily General Discussion on r/ethereum

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Bookmarking this link will always bring you to the current daily: https://old.reddit.com/r/ethereum/about/sticky/?num=2

Please use this thread to discuss Ethereum topics, news, events, and even price!

Price discussion posted elsewhere in the subreddit will continue to be removed.

As always, be constructive. - Subreddit Rules

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Welcome to the Daily General Discussion on r/ethereum

https://imgur.com/3y7vezP

Bookmarking this link will always bring you to the current daily: https://old.reddit.com/r/ethereum/about/sticky/?num=2

Please use this thread to discuss Ethereum topics, news, events, and even price!

Price discussion posted elsewhere in the subreddit will continue to be removed.

As always, be constructive. - Subreddit Rules

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I Built a Privacy-Preserving Bitcoin transaction Receipt Verifier (No KYC, No Screenshots, No wallet). https://github.com/Teycir/Ghostreceipt

Would like to have feedback.

Gas: 0.032 Gwei. Third percentile. Since network inception. Active addresses: +120% year-on-year. Price: -45% from the October 2025 ATH.

This divergence has a name in thermodynamics. It's called positive free energy.

I built a 3-layer valuation model:

L1 — Physics (40%) Network temperature. Monetary entropy. Gibbs free energy.

L2 — Usage (35%) Real adoption. L2 velocity. RWA tokenisation. DeFi activity.

L3 — Finance (25%) ETF flows. Exchange reserves. Open interest structure.

Current readings:

T_eth = 0.03 S_eth = 0.85 H_eth = 0.65 EFEI = H − T×S = +0.625 

ESM composite score: +0.487 Regime: undervalued. Liquid → Solid transition phase.

In thermodynamics, when free energy is positive, the system spontaneously converges toward higher value. That's not an opinion. It's a property of the system.

What's suppressing the signal? Layer 3. Macro. Elevated VIX, mixed ETF flows. Weighted at 25%. Intentionally.

One upcoming catalyst flips the entropy term negative. I won't name it. You already know what it is.

Ether State Model v1.0 — u/GabFromMars

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Working on a little side project that turns etherscan data into readable risk. If you analyzed a wallet recently I’d love to compare your assessment to my engine’s output and see where it’s wrong and right, thanks

I am newbie in crypto trading. And I learned that ETH tokens pose a huge risk even if token seems to be authentic. Tried to swap my eth funds for Tether Gold XAUT, but got zero balanced fake tokens. Lesson learned as I checked later for second time to find out Tether Gold legit contract. Contract was fake and did not match with the legit one. I will never trust any tokens but it is very sad that those tokens were listed at coinbase web wallet to swap. Should not be. Thus I paid for that lesson ca €10 I think that these risks are discrediting ethereum as safe network. Because if user has no other option than believing that contract is genuine then any fake blockchain checking site may serve it as legit. Fortunally I transfered fake tokens to my cold wallet, so I just created new ethereum account in it to change address as previous is now a little compromised as scammers can scan and track my ethereum account balance. Will leave compromised as it is and will not touch it anymore.

Been building an x402 gate way for my local business site builder. I want to experiment with x402 more for deliverables outside of the "typical" things (e.g.: simple api calls etc.) as I believe the potential is actually a lot bigger than that. I think it can be used for "bigger" agentic deliverables, e.g.: with this you get a full pipeline (llm research, google places search, image analysis, brand guidemap etc. which than gets molded into a one pager). Changes the game from "cheap api calls" to bigger deliverables. Feel free to play around with it and let me know what you think! Anyone else doing stuff sort of out of the most comon use cases with x402?

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I’ve been trying to understand where tokenized real-world assets (RWA) actually fit. On paper, it sounds useful. You can take things like gold, real estate, or commodities and put them on blockchain. That should make them easier to trade, more accessible, and available 24/7. No banks, fewer middlemen.

But I keep wondering how much of this is real improvement vs just packaging old assets in a new way. If I already have ETFs or REITs, do I really gain anything from tokenization? Or is it just more risk added through crypto infrastructure?

I recently found Steamex.com, a platform which is focused on tokenized gold. The idea is simple: you buy digital tokens backed by real gold instead of holding physical metal. It sounds convenient, but it also depends a lot on trust in the company and how the backing actually works.

Another question is liquidity. Projects say assets are tradable anytime, but that only works if there are enough buyers and sellers.

Curious what others think. Is this actually the future of finance, or are we still early and overestimating the impact?

Welcome to the Daily General Discussion on r/ethereum

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V4 passed near-unanimously with their main shift from being a monolithic pool to modular vaults.

Like Morpho's isolation but with Aave's liquidity depth. sUSDe and RWA yields get cleaner APY profiles because risk vectors aren't correlated anymore. This is DeFi infrastructure graduating from 'move fast break things' to 'TradFi complexity with better costs and could be a comeback for Aave against other lending market if implemented properly

I've always wanted to know more about the world of the unsung heroes in blockchain. Those, being the validators and miners.

How do validators of various blockchains communicate? Is there a place where I can peek into their world, (if any exist) where I can submerge myself in how they think, what they find valuable, and generally ask a tonne of questions?

I understand the answer will vary from ecosystem to ecosystem. But yes, please assist. Where can I find validator groups and communication channels, any common I can communicate with them.

Thanks,

Been holding ETH for a while and looking into options for earning yield. Running a node seems cool but managing hardware and extra tokens feels like a lot. Liquid options are easier but then you're holding derivative tokens and trusting the protocol.

Curious what path people are actually taking these days. Is the extra effort worth it or do you just hold?

Been holding ETH for a while and thinking about staking. With 32 ETH still being the solo requirement, I'm looking at options like Rocket Pool or Lido, but I keep going back and forth.

Running a node seems cool but hardware + 4 ETH + RPL feels like a lot to manage. Liquid staking is easier but then you're holding a derivative token and trusting the protocol.

For people staking right now , what path did you take and how's it been? Is the hassle worth the yield or do you just stick to holding?

Trying to get a realistic picture of where rollup deployment is right now, not the hype version. I've been reading through documentation for most of the major platforms and the gap between what they promise and what teams actually experience seems pretty significant based on forum posts and Discord convos.

Specifically curious about a few things. How much does your framework choice actually constrain you after deployment? If you start on OP Stack and realize Arbitrum Orbit would've been better for your use case, how painful is that migration realistically?

Also the maintenance burden question. Every platform promises "one-click deployment" but what does post-launch actually look like for the infra team? Are you constantly babysitting the thing or does it run without much intervention?

Asking because I keep seeing projects underestimate this and then burn significant engineering time on infra that should be going to product. What's been everyone's experience?

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Been mostly a BTC holder for a while but decided to move a portion into ETH. Wanted exposure to the ecosystem without buying fresh off an exchange and adding to my KYC footprint.

Considered doing it on a CEX but the verification requirements on the platforms I already use have gotten stricter lately - didn't want to go through that for a one-time rebalance. DEX route felt overly complicated for BTC specifically since it's not native to most EVM chains.

Went with a crypto exchanger. Checked a couple options for operating history and rates, picked one that had been around long enough to have some track record. Took about 25 minutes end to end, rate was close to spot, no issues.

Anyone else using exchangers for BTC/ETH or are you going full CEX for this kind of swap?

Had about 0.5 ETH sitting in a wallet I wasn't really doing anything with. With the ETH/BTC ratio where it's been lately I decided to just move it to BTC and stop thinking about it.

The annoying part was figuring out how. Tried initiating on Coinbase, got a re-verification prompt partway through which killed the momentum. Then looked at doing it on-chain -Uniswap is fine for ERC-20 stuff but for ETH to actual BTC you're bridging, and between gas and slippage I was looking at losing 2%+ before the swap even happened.

Ended up going the crypto exchanger route. Did some research on operating history and reserve size, had a swap stall on a low-reserve service once before so that matters to me. Swap completed in about 20 minutes. Rate was within a reasonable range of spot, coins came back clean.

Whole thing was less dramatic than I expected after all the research. What are you using for ETH/BTC swaps - CEX, DEX, or the exchanger route?

BitMine just added another 65,341 ETH and now holds 4.66M ETH total

A huge chunk is also staked, which makes this feel bigger than a normal treasury headline

Curious how people here see it — bullish signal for Ethereum’s institutional case, or too much concentration in one corporate balance sheet?

https://btcusa.com/bitmine-adds-65341-eth/

Most conversations around ETH are about trading, staking yields, or long-term positioning. That’s fine, but I’m more interested in actual usage.

Where does ETH realistically make sense outside of speculation?

From what I’ve seen, it shows up most in DeFi, NFTs, and certain online services; but even then, gas fees can make smaller transactions feel inefficient. It’s not always obvious where ETH fits as something you use rather than just hold or lock up.

I’ve experimented a bit with different use cases, mostly around digital services and entertainment. Some platforms are clearly designed with ETH in mind, while others just support it as an extra option without really optimizing the experience. A few setups, like Metaspins, seem to lean more into direct crypto usage, but even there it depends on fees, timing, and how smooth the process actually is.

So I want to know. What are you using ETH for right now that feels practical, not just theoretical?

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Hi,

Long story short 45sec after funding my trust wallet a transfer occurred that I do not recall making.

Mar-23-2026 01:10:59 AM

From funding wallet to trust wallet Erc20

0xd88cec26651601789e86cedbefc2af5e3d282249badc150f9caeb4fea509be30

The unknown transaction

Mar-23-2026 01:11:47 AM

0xa72208defce57ad563bc406f8a5bfd6fa8dc4e17f2b2045e11741eb88067cf1b

Is there something i am missing? Or is my wallet compromised.

Thanks in advance.

Just finished the first version of Aegisa. It’s basically a "Control Tower" for testnets.

The goal was to have one place to check balances across Sepolia, Base, IOTA, etc., and dispense gas via a dedicated API for automated tasks. It's meant to be hosted on your own infra so you aren't at the mercy of public endpoints.

Landing page:https://mwveliz.github.io/aegisa/
Source:https://github.com/mwveliz/aegisa/

Been using Ethereum for years and I'm happy with the roadmap, but L2s are starting to feel like their own isolated islands. Arbitrum, Base, Optimism, ZkSync , each has its own liquidity, its own bridges, its own quirks.

I get that they scale the network, but moving between them still feels clunky. Sometimes I wonder if we're solving one problem (fees on mainnet) while creating another (fragmentation).

Curious how others see this. Are we heading toward a unified L2 experience or is this just how it's going to be?

Hi there,

I made a niche thing, probably useful for a small group of node runners who wanted something like this.

It’s basically a lightweight, IPFS-hosted Ethereum explorer — like Etherscan, but it queries your own node directly via JSON-RPC. It’s just a static HTML page, so you open it, enter your RPC, and use it. No backend, no setup — just a page.

Access

• nodex.monkale.eth
  
• nodex.monkale.eth.limo
  

Repo

github.com/monkale-io/ethereum-node-explorer

I built it after I started running my own node and wanted a simple web UI to explore it. I found an old explorer (Alethio ethereum-lite-explorer) — it still works and is actually quite good, but it was abandoned ~6 years ago — so I decided to rewrite it with a modern stack and put it on IPFS, so it can stay just a static page without any backend or services to run.

Planning to maintain and evolve it. Feedback and contributions are welcome.

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Whenever I see an exchange offering 40% APY on stablecoins, I run the other way immediately. Yield doesn't come from nowhere. I look for platforms that just focus on standard spot trading, verifiable proof of reserves, and steady, quiet growth. That's exactly why I've stuck with Coinbase and BitMart over the years. Solid security beats flashy yields every single time.

Hey everyone,

I’ve been working on a side project called Blockpeek and just shipped a new update. It’s a blockchain transaction scanner that tries to explain what actually happened in plain English instead of just showing raw hex data.

You paste a transaction hash (or upload a screenshot from your wallet/exchange) and it tells you:

∙ What was sent, to who, from who ∙ The USD value at the time ∙ Gas fees in USD ∙ Which chain it was on (auto-detects Ethereum, BSC, Arbitrum, Polygon, Base, Solana, Bitcoin, Tron and more) 

It’s free, no login required.

Would genuinely love feedback — what’s missing, what’s broken, what would make it actually useful for you.

blockpeek.io

I’m looking for a way to swap my Bitcoin to Ethereum without KYC, so obviously i found thorchain, but unfortunately it’s not available here in the U.S, and i heard it’s very expensive as well. Where should I do it you think?

sorry if this question was already asked in past but i couldnt find an answer after bit lf time checking.

Tally is dead - and we killed the future it was supposed to serve

Tally - the biggest DAO governance platform in Ethereum, used by Uniswap, Arbitrum, ENS, and 500+ DAOs - just shut down. Less than a year after raising $8M.

Their CEO said their thesis was that there would be thousands of L2s needing governance tools. Instead, the industry consolidated around a handful of protocols. The "infinite garden" never grew.

But let me tell you what that garden was supposed to look like - because I think most of us forgot.

# We were supposed to build real things

Imagine an open-source Uber alternative - a real LLC that builds and maintains the software, but instead of a board of directors and shareholders extracting 30% of every ride, the company is managed by a DAO. Token holders vote on fee structures, driver policies, expansion decisions. The app itself is normal software - you're not routing drivers through smart contracts, that's absurd. But the *governance and ownership* layer is on-chain, transparent, and community-driven. Same idea for Airbnb - a real company, open-source code, DAO-managed, hosts keeping almost everything they earn. These aren't fantasy. This is what Ethereum was supposed to make possible.

And some of these projects actually existed. People actually tried to build them. They're dead now. Not because the technology failed. Not because there was no demand. They died because there is no ecosystem for legitimate projects to grow in.

# The ecosystem eats its own

Here's what actually happens when you try to build something real in Web3. You build your protocol. You launch. And then you need to tell people about it. So you go to crypto subreddits - banned. Crypto Discords - banned. Telegram groups - banned or drowned out by bot spam. You share your project and moderators treat you the same as the guy shilling a dog coin that'll rug in 48 hours.

Your realistic option? Post on BitcoinTalk and slowly, painfully try to build enough traction over months and years, hoping that some VC notices you before you run out of money.

That's the reality for legitimate builders in this space. Meanwhile, scam tokens with zero utility get millions in funding because they know how to play the hype game.

# Tally didn't die because DAOs failed - DAOs failed because we never let real ones grow

Tally's CEO was right that the ecosystem of consumer applications never developed. But let's ask *why*. During the Gensler era, projects adopted DAO structures as legal shields against SEC enforcement - not because they believed in decentralized governance. When Trump signaled softer regulation, teams dropped the pretense overnight. Most DAOs were never real. They were legal camouflage.

And the few people trying to build genuine DAO-governed applications with real-world utility? They couldn't get a single post up without being flagged as spam.

Buterin has been talking about DAOs all year - calling for better designs in January, proposing AI agents to vote on your behalf in February because human participation is so low. But maybe participation is low because there's nothing meaningful to participate *in*. If the only DAOs that survive are governance wrappers for DeFi protocols, of course nobody shows up to vote.

# EF is building infrastructure for a city nobody moved into

Ethereum Foundation keeps pushing ZK rollups, cheaper transactions, scaling solutions. Fine, these have technical merit. But cheaper gas doesn't matter when there's nobody new to use it.

With all the capital EF has, we could be funding the things that would actually bring normal people on-chain. ZK-based KYC that restores trust without sacrificing privacy. Incubation programs for real-world DAO applications. Moderated spaces where legitimate builders can actually be discovered without getting lumped in with scammers.

Instead, Ethereum competes with its own L2s for the same users who are already here, while billions of people still think "crypto" means "the thing my cousin lost money on."

# The future of blockchain is in humans, not in technology

Somewhere out there, someone is trying to build the decentralized Uber that could change how millions of people work and travel. They can't get a Discord post up without being banned. They can't raise money because VCs only fund what already has traction. They'll probably give up in six months.

And in five years, we'll still be wondering why the "infinite garden" never bloomed.

The technology is ready. The people aren't - because we never built the ecosystem to welcome them. That's what killed Tally. Not a lack of ZK proofs. Not expensive gas. A lack of humans.

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Hey everybody, I've been building a no code visual smart contract builder for solidity to help non-developers realize their ideas without having to learn solidity.

While doing that, as a dog food experiment, I created a block explorer which uses the visualizations against verified contracts so I could test better.

At some point I realized that would make a pretty cool tool for a lot of people since I'm able to surface things that most block explorers don't:

• being able to replay a transaction and follow what's happening on the visual graph
• displaying various attributes about a contract like whether it's pausible, has only owner functions, etc
• showing debug info about every step that happened in the contract

There's probably a lot more that I could do there and I'm looking to source ideas from the community about what should be added.

It'd be great if y'all could take a look and see if there's anything obvious that I'm missing

https://doodledapp.com/explorer

Thanks!

Seen some past posts that people had lost their wallets and this might help those people!

If you created a wallet with CoinSpace (now Coin Wallet) around early 2021 and your seed phrase generates a completely different address in MetaMask or any standard tool... you're not crazy. The software had a bug.

CoinSpace v3.0.7 (and maybe other versions) incorrectly derived wallet addresses from your seed phrase due to two compounding errors in the code. Your seed phrase can be recovered - but not using it directly. the app just used a broken algorithm to turn it into an address, one that no standard wallet tool replicates.

CoinWallet is aware of part of the issue and will point you to a derivation path fix if you report it, but that fix alone doesn't work. The recovery script in the repo handles it correctly.

I hit this when I needed to recover 1.55 ETH from a wallet I created in Feb 2021. After weeks of forensics I found the bug and wrote a recovery script.

Recovery script: https://github.com/RobMulla/coinspace-eth-recovery

Full long writeup about my journey: https://robmulla.substack.com/p/how-my-sons-roblox-mod-helped-me

If you're affected, and this works for you please let me know! Or if you knew about this already... I'm curious to know if I'm not the only one.

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The top priority is safety and security.

The coins to be stored are ETH and USDC (can also be 2 separate wallets for each, I dont mind that). They are to be used for long-term.

The wallet will be installed on a external drive which is then removed and stored securely. Wallet is not installed on the computer itself.

What are your best recommendations?

PS: Yes, I know! Usually people recommend hardware wallets... but I think they are still risky because you put all your trust in just one single company, and sometimes they can do stupid stuff, for example as we've seen some stories with Ledger and their multiple data leaks. I personally feel more comfrotable with a software one, as long as it's safe and secure.

I'm traveling next month across a few different countries and really want to spend some of my gains without off-ramping to fiat and dealing with my bank's absolute BS regarding foreign transaction fees. I used to use the Binance card heavily but, well, you know how that ended for a lot of regions. I saw BitMart has a card out now with their 8th anniversary promotions, and Coinbase obviously has their established one. Has anyone used the BitMart card specifically in Europe or Southeast Asia? I'm mainly looking for decent conversion spreads at the point of sale and no hidden monthly maintenance fees

EF just sold 5000 ETH to Bitmine at local low (price), meanwhile publishing insecure anime "safe space" out of touch manifestos. Seriously guys, what's wrong with you?

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What crypto founders have the biggest peenys? Does Anatoly have a big one? Is Richard Hart holding a tiny tinkler? Is Pasternak packing? All of us have thought about this many times but now is a chance to really get into it and discuss what we all want to know, maybe there’s a guy or girl in the sub that knows the answer to all of these from actual experience and is ready to put rumors to rest. Let’s keep it civil and talk about dingdongs in an adult manner ultimately using this data as another point of confluence to fill out bags, remember no shaming ok guys?!

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Hi guys, I am willing to diversify my stablecoins folio to bitcoin, heard about wrapped bitcoin (WBTC) on the ethereum chain, wondering if you guys are using it/what's your opinion on it?

Anyone else read the EF Mandate that dropped Friday?

"Ethereum is so other people can't rug you; society can't rug you; your government can't rug you; another government can't rug you; corporations can't rug you."

Trade wars escalating, institutional trust falling apart — and crypto has held decently through the worst of it so far. Blue chips bouncing off lows, ETH above $2,100 as of writing.

A year ago this kind of global uncertainty would have sent crypto off a cliff. Starting to wonder if people are finally understanding what trustless sovereign money actually looks like when the systems around it are failing.

The mandate feels like EF is leaning into exactly that moment. They're framing Ethereum as "sanctuary technology" and going hard on what they call CROPS — censorship resistance, open source, privacy, security — as non-negotiable properties. Not just another smart contract platform. Infrastructure for self-sovereignty in a world where the systems people have been trusting are breaking down.

This framing feels different from anything EF has put out before. Is the market starting to price in a new narrative? Or am I reading too much into it?

https://ethereum.foundation/ef-mandate.pdf

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Vitalik Buterin recently suggested that Ethereum might need to revisit the separation between execution clients and beacon (consensus) clients.

Right now, running a full Ethereum node means running two different pieces of software that have to communicate with each other. That architecture came from the Merge and the move to proof-of-stake.

Vitalik argues that this makes running your own node unnecessarily complex.

His main point: running Ethereum infrastructure shouldn’t feel like a devops job only professionals can handle. It should be something ordinary users and households can realistically do.

In the short term he mentioned ideas like standardized wrappers or unified node setups (Nimbus is already experimenting with this).
Longer term, Ethereum could potentially revisit the architecture entirely once “lean consensus” research matures.

Full article:
https://btcusa.com/vitalik-buterin-ethereum-node-architecture-self-sovereignty/

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https://drive.proton.me/urls/6M5RFJHPT8#XeXAvdZtQXfe

via https://xcancel.com/josefje/status/2032515970569269507

Ethereum Foundation (EF) wrote a constitution for the soul of the project. The new EF Mandate isn't just a corporate mission statement but a line in the sand for how Ethereum stays human in an increasingly automated world.

The EF is calling its core philosophy CROPS. If a feature isn’t Censorship-resistant, Resilient, Open-source, Private, and Secure, it doesn't belong on ethereum . No trading sovereignty for convenience.

Here are the main points:

Stewardship, Not Ownership: The EF is explicitly saying they aren't the boss. They are temporary caretakers who eventually want to disappear. This is the ultimate decentralize or die commitment.

The AI Shield: They see a future where AI and opaque algorithms run everything. Ethereum’s job is to be the Infinite Garden, a place where humans, not code or corporations, have the final say over their own lives.

Immutable Values: By publishing this directly onto the blockchain, they’ve made their values as permanent as a transaction. You can’t edit the project's soul once it’s on-chain.

This is a massive vibe check for the entire ecosystem. It’s a reminder that if we give up control for a slightly faster app, we’ve already lost the plot.

Can a written mandate actually stop the slow creep of centralization, or is the pull of convenience just too strong? Let’s talk. ????

Source

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I've created a series of charts that show inflation in a way that has an emotional element. They show your specified savings amount counting down every hour/ day / week / month etc. The numbers counting off your savings I think is provoctive and could drive people learn about fiat debasement. This will also play into more sound investments like Ethereum and crypto etc. I honestly don't think the average person understands what's going on as everyone in my circles say stuff like 'isn't everything expensive now'.

I obviously won't add the link although it's in my bio. What do you think of the concept or my site if you visit?

Thanks in advance.

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Virtuals Protocol and the Ethereum Foundation just dropped the commerce layer for agents. This can be called as a new job primitive.

Currently we need a platform like Upwork or Freelancer to hold the money in escrow and make sure the work actually got done. In the agent economy, that is a bottleneck.

Every transaction now has a client, a provider, and an evaluator. The Evaluator is the secret sauce, it’s an address (could be another AI or a ZK-circuit) that confirms the work is good before the money is released.

Because this is on-chain, an AI’s track record isn't locked in. If an agent is a great coder, its completed job history follows it everywhere. This means it need not start from zero trust. If the bot doesn't deliver, the contract auto refunds. There is no customer support tickets or charge backs.

Very curious to know how this will work for qualitative works? Let me know what you think.

I was recently auditing some smart contracts for a side project, and it struck me how much effort we put into decentralization on-chain, only to funnel everything back through a KYC-heavy centralized exchange the moment we need to pay for a real-world service or a server bill.

As someone who values the 'cypherpunk' roots of Ethereum, I’ve been looking for ways to bridge the gap between my ETH/L2 holdings and actual spending without constant surveillance.

I recently experimented with AllArk for a No-KYC virtual card to handle some smaller payments (mostly for my digital comic book subscriptions). I recently experimented with AllArk for a No-KYC virtual card to handle some smaller payments (mostly for my digital comic book subscriptions). The UX was surprisingly fluid compared to the usual 'send to exchange -> wait for bank transfer' nightmare.

However, this raises some technical questions for the community:

Privacy vs. Convenience: Are we at a point where No-KYC off-ramps like AllArk can scale, or will regulatory pressure eventually force them into the same mold as CEXs?

Layer 2 Integration: Most off-ramps are still heavily L1-centric. Do you see a future where we can off-ramp directly from Arbitrum or Optimism to a debit card without hitting the mainnet (and paying the gas fee)?

Smart Contract Security: When using these intermediate gateways, how are you guys assessing the risk? Are there specific 'red flags' you look for in the contract architecture of an off-ramp provider?

I’m curious to know what tools you guys are using to stay 'bankless' in 2026. Is the infrastructure finally here, or are we just in a transitional phase?

Alex Van de Sande, the person who designed Mist wallet and led Ethereum UX, deployed a contract in April 2016 that let you "grind unicorns into meat" on-chain.

The experiment became the Unicorn Meat token (w????) — deployed when ERC-20 was barely a draft standard, when the entire Ethereum dev community could fit in one room.

Why it matters historically: - Deployed April 2016, pre-TheDAO hack - One of the earliest ERC-20 compliant tokens - Created by a core Ethereum Foundation member for fun, not profit - The contract is still live and the token still trades

Original contract: https://etherscan.io/address/0xd234bf2410a0009df9c3c63b610c09738f18ccd7

The community archive: https://unicornmeat.wtf

These early experiments are Ethereum heritage. Worth preserving.

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Was digging through Ethereum's earliest blocks and found this contract at 0xd2ec...3d6b, deployed in August 2015, just weeks after mainnet launch.

The entire contract is one function: set(string). It stores a single string in public storage. That is it.

What is interesting is the bytecode. It was compiled with solc v0.1.1, the earliest Solidity compiler that exists. I was able to reproduce the exact bytecode byte-for-byte using that compiler. The output matches the on-chain code perfectly.

Contracts from this era are fascinating because Solidity was still being invented. No events, no modifiers, no constructors as we know them. Just raw storage writes. The compiler output is so small you can read the opcodes manually.

The deployer (0x8674...94e2) deployed 18 contracts in the same week, all in the 52,000-55,000 block range. Looks like someone was experimenting heavily with what Solidity could do.

If anyone is interested in early Ethereum archaeology, ethereumhistory.com is documenting contracts from this period with verified source code and compiler proofs.

Edit: here is the contract page on Ethereum History.

In September 2015, six weeks after mainnet launch, someone deployed three contracts that became Ethereum's first naming infrastructure: GlobalRegistrar, HashReg, and UrlHint.

Block 282,880 — September 24, 2015

The GlobalRegistrar mapped names to addresses. HashReg mapped code hashes to content hashes. UrlHint mapped content hashes to URLs for metadata retrieval. Together they formed the NatSpec documentation system — the mechanism that was supposed to let Ethereum wallets display human-readable descriptions before signing transactions.

The system was hardcoded directly into go-ethereum v1.4.0 (common/registrar/registrar.go). Not an optional plugin. Core infrastructure.

The frozen TODO that became ENS

Inside the GlobalRegistrar source code (verified on Etherscan, compiled with solc v0.1.1), there's a comment that reads:

// TODO: bidding mechanism

That comment sat frozen for years. The ambition was there — first-come-first-served registration was always meant to be a placeholder. The bidding mechanism didn't arrive until ENS launched in May 2017, when Vickrey auctions replaced the naive assignment system.

ENS didn't appear from nowhere. It solved the exact problem the GlobalRegistrar identified and couldn't finish.

The three-contract system

All three contracts were deployed by the same address within 18 blocks: - GlobalRegistrar: block 282,880 - HashReg: block 282,885 (5 blocks later)
- UrlHint: block 282,898 (18 blocks after start)

The deployer identity isn't confirmed — likely a go-ethereum core developer given the contracts were shipped alongside the go-ethereum codebase — but we haven't pinned the address to a name yet.

Why it matters

Every .eth name you resolve today is the descendant of that frozen TODO comment from 2015. The naming problem was understood from week six. It took two more years to solve it properly.

We documented all three contracts on EthereumHistory.com last night. The verified source code, links to go-ethereum v1.4.0, and the full historical context are there if you want to dig deeper.

Cross-posted from our ongoing archaeology of early mainnet contracts. If you deployed or used these contracts in 2015, we'd love to hear the story.

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For the past few months I've been building EthereumHistory.com, a project to document every notable smart contract from Ethereum's earliest days (2015-2017). Think of it as a Wikipedia for Ethereum's contract archaeology.

Recently I did a deep scan of all 12,609 contracts deployed during the Frontier era and found 1,650 still holding ETH — totaling over 38,000 ETH (~$95M at current prices) locked in contracts from Ethereum's first weeks.

Here's what's actually inside them:

The Gambling Contracts (Day 13 of Ethereum)

EtherDice (0xc4c51de1abf5d60dbd329ec0f999fd8f021ae9fc) was deployed on August 12, 2015 — just 13 days after Ethereum launched. Someone loaded it with a 1,000 ETH bankroll. It's a 21-function commit-reveal dice game, surprisingly sophisticated for the era. 122 ETH still sits inside, permanently locked because the deployer likely lost their keys years ago.

The Inverted Timelock

TimeLockVault (0xed44f3c2081480b08643fe1ca281fab9ed643735) has a beautiful bug: the time check is inverted. You can withdraw before the unlock date (2035), but once 2035 arrives, the funds become permanently locked. 50 ETH inside. The deployer could have withdrawn years ago but apparently never noticed.

The Stalled Pyramid

EtherPyramid (0xa9e4e3b1da2752aea980698c335e70e9ab26c) had 140 participants. 136 of them are still waiting for their payout. 37 ETH frozen forever in a pyramid that ran out of new entrants. A time capsule of early Ethereum's Wild West era.

The Pattern

After scanning all 1,650 funded contracts, the pattern is consistent: every single one is either owner-gated (keys likely lost), bug-locked, pyramid-stalled, or timelocked. At least 5 active hunter addresses have already probed most of these contracts looking for extractable funds. None succeeded.

These contracts are essentially digital fossils — permanently preserved on-chain with real ETH sealed inside them. They tell the story of Ethereum's earliest developers experimenting with code that would handle real money, often for the first time.

I've been documenting these on EthereumHistory.com with verified source code, deployment context, and the stories behind them. If you deployed contracts in 2015-2016 or know the stories behind any early projects, I'd love to hear from you.

What early Ethereum contracts do you remember that deserve to be documented?

I tried to access compound.finance, and when connecting wallet it warns me the domain has very low popularity. I carefully review it and found out when launching app, it actually got redirected to app.compoond.finance, which is extremely sketchy.

I tried enter the website through google, and typing manually in browser, and enable secure dns, and access it on my phone. But the result is the same, when open the app function, I still got redirected to a very phishing like link https://app.compoond.finance/

I just did a whois lookup, the compoond is just registered yesterday, so a huge red flag!

Anyone know what is going on?

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I propose to wrap USDT, since currently it is a highly outdated coin, and its transfer function has issues, and doesn't have new features, and only has 6 decimals. While these issues may not be large now and can be easily fixed or do not lose too much functionality, as DeFi expands new standards, etc may add more features, then USDT can be put into a standardized wrapper to handle it.

Yesterday I posted about verifying Vitalik's first token contract and got a great response. A few people asked how to follow along as more proofs are published, so I set up two places to track them:

• GitHub: awesome-ethereum-proofs - each proof has its own repo with a reproducible verification script
• Web: ethereumhistory.com/proofs - browse all verified contracts with deployment dates, compiler versions, and methodology

Most contracts deployed in August 2015 have no verified source on Etherscan. The compilers are too old for automated tools, source code was hosted on Pastebin links that expired years ago, and some contracts used languages Etherscan doesn't even support (Serpent, LLL). So I've been doing it manually - testing every early compiler version against on-chain bytecode until I get a byte-for-byte match.

Since the Vitalik post, here are 4 new proofs:

"Test" - First Executable Contract (Aug 7, 2015, block 48,643) The earliest contract with executable code on Ethereum mainnet. Compiled with soljson v0.1.1, the first publicly available Solidity compiler release. Just 8 days after mainnet launch.

Hello World Greeter (Aug 7, 2015, block 48,681) Ethereum's "Hello World" moment. Deployed 38 blocks after the first executable contract, same day, same compiler. Based on the greeter tutorial that shipped with the early Ethereum documentation.

EarlyChainLetter10ETH (Aug 8, 2015, block 49,931) A chain letter pyramid contract from day 2 of smart contract deployment. One of the first attempts at a financial game on Ethereum. Participants sent 10 ETH to join, and the contract would pay out earlier participants as new ones joined.

FunDistributor (Aug 10, 2015, block 62,632) A "king of the hill" behavioral economics experiment. Send more than 1% of the contract's balance to become the receiver. If nobody touches the contract for 200+ blocks (~45 min), the current receiver gets paid out. The original source was on Pastebin (link expired) - had to reconstruct it entirely from bytecode. Interesting discrepancy: the Reddit announcement said the payout was 25% of the balance, but the verified code shows this.balance / 3 (33.3%).

Some things I've learned doing this:

• Operand order matters in solc 0.1.1. msg.value * 100 and 100 * msg.value produce different bytecode because the compiler evaluates right-to-left.
• The private keyword existed in solc 0.1.1 but was almost never used. FunDistributor is one of the earliest known uses.
• Solidity function declaration order affects optimizer output. Changing the order of functions in the source can completely change the compiled bytecode.

There are 11 proofs so far covering contracts from Aug 2015 through Apr 2016, including Serpent, Solidity, and contracts by Vitalik and Gavin Wood. More coming as I work through the earliest blocks.

If you know of any early contracts with lost source code, I'd love to hear about them.

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I staked some ETH around a month ago and it still has the Staking..... "staking takes 5 days" prompt. How long does it normally take to stake ETH and should I be worried?

So I have some Eth staked on lido and received steth in return. After a few people I know told me I can deposit steth to double dip, earn steth rewards and earn rewards on steth coins as well? Does anyone have any suggestions? I’ve checked morpho, and aave but can’t seem to find any information on lending steth in return for more rewards? Ive also heard of curve and harvest but I’m not familiar with either.

Any safe suggestions would be greatly appreciated, as i treasure my Eth and I’m not trying to jeopardize it any way to make a small return. I’m just trying to maximize the amount of Eth I have and letting it work to grow more.

Thanks

One important technical item that I forgot to mention is the proposed switch from Casper FFG to Minimmit as the finality gadget.

To summarize, Casper FFG provides two-round finality: it requires each attester to sign once to "justify" the block, and then again to "finalize" it. Minimmit only requires one round. In exchange, Minimmit's fault tolerance (in our parametrization) drops to 17%, compared to Casper FFG's 33%.

Within Ethereum consensus discussions, I have always been the security assumptions hawk: I've insisted on getting to the theoretical bound of 49% fault tolerance under synchrony, kept pushing for 51% attack recovery gadgets, came up with DAS to make data availability checks dishonest-majority-resistant, etc. But I am fine with Minimmit's properties, in fact even enthusiastic in some respects. In this post, I will explain why.

Let's lay out the exact security properties of both 3SF (not the current beacon chain, which is needlessly weak in many ways, but the ideal 3SF) and Minimmit.

"Synchronous network" means "network latency less than 1/4 slot or so", "asynchronous network" means "potentially very high latency, even some nodes go offline for hours at a time". The percentages ("attacker has <33%") refer to percentages of active staked ETH.

Properties of 3SF

Synchronous network case:

• Attacker has p < 33%: nothing bad happens
• 33% < p < 50%: attacker can stop finality (at the cost of losing massive funds via inactivity leak), but the chain keeps progressing normally
• 50% < p < 67%: attacker can censor or revert the chain, but cannot revert finality. If an attacker censors, good guys can self-organize, they can stop contributing to a censoring chain, and do a "minority soft fork"
• p > 67%: attacker can finalize things at will, much harder for good guys to do minority soft fork

Asynchronous network case:

• Attacker has p < 33%: cannot revert finality
• p > 33%: can revert finality, at the cost of losing massive funds via slashing

Properties of Minimmit

Synchronous network case:

• Attacker has p < 17%: nothing bad happens
• 17% < p < 50%: attacker can stop finality (at the cost of losing massive funds via inactivity leak), but the chain keeps progressing normally
• 50% < p < 83%: attacker can censor or revert the chain, but cannot revert finality. If an attacker censors, good guys can self-organize, they can stop contributing to a censoring chain, and do a "minority soft fork"
• p > 83%: attacker can finalize things at will, much harder for good guys to do minority soft fork

Asynchronous network case:

• Attacker has p < 17%: cannot revert finality
• p > 17%: can revert finality, at the cost of losing massive funds via slashing

I actually think that the latter is a better tradeoff. Here's my reasoning why:

• The worst kind of attack is actually not finality reversion, it's censorship. The reason is that finality reversion creates massive publicly available evidence that can be used to immediately cost the attacker millions of ETH (ie. billions of dollars), whereas censorship requires social coordination to get around
• In both of the above, a censorship attack requires 50%
• A censorship attack becomes much harder to coordinate around when the censoring attacker can unilaterally finalize (ie. >67% in 3SF, >83% in Minimmit). If they can't, then if the good guys counter-coordinate, you get two non-finalizing chains dueling for a few days, and users can pick on. If they can, then there's no natural schelling point to coordinate soft-forking
• In the case of a client bug, the worst thing that can happen is finalizing something bugged. In 3SF, you only need 67% of clients to share a bug for it to finalize, in Minimmit, you need 83%.

Basicallly, Minimmit maximizes the set of situations that "default to two chains dueling each other", and that is actually a much healthier and much more recoverable outcome than "the wrong thing finalizing".

We want finality to mean final. So in situations of uncertainty (whether attacks or software bugs), we should be more okay with having periods of hours or days where the chain does not finalize, and instead progresses based on the fork choice rule. This gives us time to think and make sure which chain is correct.

Also, I think the "33% slashed to revert finality" of 3SF is overkill. If there is even eg. 15 million ETH staking, then that's 5M ($10B) slashed to revert the chain once. If you had $10B, and you are willing to commit mayhem of a type that violates many countries' computer hacking laws, there are FAR BETTER ways to spend it than to attack a chain. Even if your goal is breaking Ethereum, there are far better attack vectors.

And so if we have the baseline guarantee of >= 17% slashed to revert finality (which Minimmit provides), we should judge the two systems from there based on their other properties - where, for the reasons I described above, I think Minimmit performs better.

I've been working on verifying source code for the oldest contracts on Ethereum, and this one took days to crack.

The contract: 0xa2e3680acaf5d2298697bdc016cf75a929385463

Deployed by Vitalik on November 12, 2015 (block 530,996). It's a token contract implementing the standardized currency API from the early ethereum/dapp-bin repo. 1,000,000 initial supply, approve/transfer mechanics - basically a proto-ERC-20.

The problem: We tried compiling currency.sol with every Solidity compiler version from that era. Every archived soljson release from v0.1.1 through v0.3.6, nightlies from Sep-Dec 2015, native C++ solc builds from the webthree-umbrella repo, optimizer on and off. Nothing matched.

The breakthrough: Three clues pointed us away from Solidity entirely:

1. The on-chain constructor starts with 6000603f53 (MSTORE8-based memory init). Every Solidity version produces 60606040525b (the free memory pointer pattern). This is a fundamentally different code generation approach.

2. The runtime code uses MSIZE, SWAP1, MSIZE, ADD for memory allocation. This is the Serpent compiler's alloc() pattern - not found in any version of solc.

3. Two function selectors didn't match the Solidity source: disapprove() instead of unapprove(), and isApprovedOnceFor() instead of isApprovedOnce().

The answer: The contract was compiled from currency.se (the Serpent version), not currency.sol. The ethereum/dapp-bin repo had both implementations side by side. Vitalik deployed his own language's version.

Compiled with the Serpent compiler at commit f0b4128 (Oct 15, 2015) - byte-for-byte identical, all 1,661 bytes.

Full methodology, source, and proof: github.com/cartoonitunes/vitalik-currency-verification

We've submitted a manual verification request to Etherscan since they don't support Serpent as a verification language. Hopefully they can add it as a verified contract with source.

This is part of a broader effort to verify and preserve the earliest contracts on Ethereum. A lot of historically important contracts from 2015-2016 are still unverified because the compiler versions are too old for Etherscan's automated tools.

Zero-knowledge cryptography went through three phases. First: hand-crafted arithmetic circuits, only accessible to deep researchers. Second: ZK virtual machines — suddenly any developer could write verifiable code in Rust or C. Third: prover networks (Succinct, Boundless/RiscZero) that let you delegate the heavy proof generation to external infrastructure.

Each phase made the technology more accessible. Each phase also moved the user's data further from their control.

Prover networks require your full plaintext data to generate proofs. For rollups, this is a non-issue — public ledger, no privacy expectation, and what you gain (succinctness — compressing thousands of transactions into a single proof) is worth the trade. That's the use case these networks were built for, and they served it well.

The problem emerges when you extend this model to user-facing applications. Verifiable identity: proving you hold a valid passport, proving you're over 18, without disclosing the underlying data. Private AI inference: running a model on your data without the model owner seeing your inputs or you seeing their weights. Decentralized exchanges with private order books. In all of these, delegating to a prover network means surrendering exactly the inputs you need to keep private.

I sat down with a researcher at ChainSafe who's working on this specific problem. His approach: adding MPC (multi-party computation) to ZK VMs so proof generation can be delegated privately. Multiple parties each hold a secret share of the data, compute their portion, and combine results — no single party ever sees the full picture. He calls it "make ZK VMs ZK again."

He also covered a near-term approach to the deepfake problem: attested sensors that cryptographically sign photo/video metadata at capture, combined with verifiable edit histories. You can't yet verify what IS AI-generated. But you can prove everything that is human — a reverse approach. Prove provenance instead of detecting fakes.

The full conversation covers ZK, MPC, and FHE (the "holy trinity of programmable cryptography"), explained through photography analogies that are genuinely useful for building intuition. We filmed it across Taipei — street markets, a botanical garden, a tea ceremony.

Full interview: https://youtu.be/PnEivfTpnA8

—————

If we're meeting for the first time, hi ????! I started building my channel to spread the good word on good work in crypto — something with substance and humanity. A like, sub, and comment goes a long way to supporting me, so please consider doing so!

On March 29, 2016, Digix Global launched what became the first major DAO crowdsale on Ethereum. It raised $5.5 million in under 24 hours — at a time when Ethereum's total market cap was around $600 million.

What it was: DigixDAO was a governance token (DGD) for a project aiming to tokenize physical gold bars on Ethereum. The crowdsale contract was deployed at block 1,239,208 and compiled with Solidity v0.3.0.

Why it mattered: - It was the first DAO-style crowdsale to raise serious money on Ethereum - It proved that decentralized fundraising could work at scale, months before The DAO - The speed of the raise ($5.5M in <24h) shocked even the Ethereum community - It directly inspired the wave of ICOs that followed in 2017

Independent verification: Developer Piper Merriam independently verified the contract code before the sale, establishing one of the earliest examples of third-party smart contract auditing.

The original community discussion happened right here on r/ethereum, with this thread documenting the reaction in real-time.

Contract: 0xf0160428a8552ac9bb7e050d90eeade4ddd52843

Full writeup with sources: EthereumHistory.com

This was just 7 months before The DAO — and in many ways, it was the proof of concept that made The DAO feel possible. We're documenting these pre-2017 contracts before the context disappears.

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Hegotá is the official name of a major Ethereum network upgrade planned for the second half of 2026, following the Glamsterdam upgrade expected earlier in the year, and marking Ethereum’s continued shift toward a biannual release cycle. The name blends Bogotá, the Devcon host city, with the star Heze.

https://etherworld.co/all-you-need-to-know-about-ethereum-hegota-upgrade/

I built SCPF (Smart Contract Pattern Finder) - an open-source security scanner for Ethereum smart contracts.

What it does: - Scans contracts for reentrancy, delegatecall, unchecked calls, and other vulnerabilities - Uses YAML templates (easy to customize) - Integrates with GitHub Actions (SARIF output) - Supports up to 6 Etherscan API keys with automatic failover

Quick example: bash scpf scan 0x1234... --chains ethereum

Built with Rust for speed. MIT licensed.

GitHub: https://github.com/Teycir/smartcontractpatternfinder

Would love feedback from the community! ????

Hi everyone,

If you've been following the Account Abstraction roadmap, you know the community pivoted hard toward EIP-7702, a proposal driven by Vitalik to allow EOAs (standard wallets) to temporarily act like smart contracts.

I write a lot about blockchain architecture, and I noticed that while the hype around "gasless transactions" is loud, the actual mechanics of how EIP-7702 achieves this safely aren't discussed enough. I published an architectural breakdown to clarify how this works under the hood.

The core of the design is the SetCode transaction type. Instead of permanently migrating an EOA to a smart contract, EIP-7702 allows a transaction to temporarily attach smart contract code to an EOA for the exact duration of that single transaction.

The deep dive covering:

• How this solves the security debates around previous proposals.
• The technical flow of batching operations
• What this means for the current ERC-4337 infrastructure.

I'd love to hear from people that building in the space: How quickly do you expect it to be broadly used

I spent 1 month talking to 10 SaaS and AI companies trying to sell them on x402.
Here's what almost all of them said:

"Why would an AI agent pay per usage for a certain app when you can just create a SaaS product, ask for a top-up, and internally use credits?"

x402 doesn't replace the per-usage model. It solves one specific problem: no human in the loop.

There are 2 use cases:

1. Anonymous autonomous agent. No account. No signup. No pre-loaded balance. Pays mid-task and moves on.

2. Humans with accounts created - that want to automate - a top-up credit model wins with pay per usage with credits.

BUT
Almost every SaaS would want you to create your account.

SO x402 is really only good for automatic top-ups / payments.
Change my mind.

Been doing Ethereum archaeology and found a useful reminder: token-for-token swap behavior existed on-chain in 2016, long before AMMs were mainstream.

What was different vs modern DeFi: - no pooled liquidity / routing engines - much heavier coordination + trust assumptions - primitive UX, but clearly permissionless exchange intent

It feels like DeFi history is better modeled as a slow primitive stack (2015-2018) rather than a sudden 2020 birth.

Question for the OGs here: which pre-2018 contracts do you consider the most important proto-DeFi stepping stones?

Two weeks after Ethereum's genesis block, a Reddit user named "Semiel" deployed one of the earliest smart contracts on the network: TerraNullius.

What it does: Anyone can "claim" a hex coordinate and attach a message to it — a permanent, uncensorable message board on the blockchain. No tokens, no governance, no economic incentive. Just messages, forever.

The numbers: - Deployed at block 49,880 (August 7, 2015) - Compiled with Solidity v0.1.1 - 25 claims in 2015, then it sat mostly dormant - 687 claims during the 2021 NFT boom (people realized these were basically proto-NFTs) - 805 total transactions and counting — still active in 2026

It was referenced by the Guinness World Records and is one of the earliest surviving interactive contracts on Ethereum.

The original announcement was a Reddit post right here on r/ethereum, with Semiel sharing a Pastebin script so people could interact with it.

What's fascinating is how it predates every pattern we now take for granted — ERC-20, ERC-721, ENS, DAOs. This was someone experimenting with permanence on a chain that was two weeks old.

Contract: 0x6e38A457C722C6011B2dfa06d49240e797844d66

Full writeup with sources and verification: EthereumHistory.com

If anyone has stories about early Ethereum experiments like this, I'd love to hear them. We're trying to document the pre-2017 era before the context is lost entirely.

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My question is for devs and teams which are running Defi apps, DApps, Web apps with wallet connect feature. How are you doing compliance and taxes for the payments that comes directly though wallet connect feature? User can deposit funds that came from any random source. How do you manage all these anonymous payments coming to you?

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GavCoin (0xb4abc1bfc403a7b82c777420c81269858a4b8aa4) was deployed on April 26, 2016 - one of the earliest token contracts on Ethereum. The original source used #require directives from the Mix IDE preprocessor, which hasn't existed for years. The code was never verified on Etherscan.

I spent a while reconstructing the source from bytecode analysis:

• Brute-forced all 12 function selectors via keccak256 to recover the exact function names (turns out Gav used changeOwner not setOwner, nameRegAddress not name)
• Discovered the contract has zero events, no inheritance, and a flat storage layout - unusual for something based on dapp-bin's coin.sol
• Found that function declaration order matters in solc 0.3.x because it controls where the shared return trampoline gets placed in bytecode
• The constructor registers itself as "GavCoin" in the old global NameReg contract and mints 1,000,000 tokens to the deployer, plus has a proof-of-work mining function anyone could call

End result: exact byte-for-byte match of the 905-byte runtime bytecode across solc v0.1.6 through v0.3.2 with optimizer enabled.

Source and one-command verification script: https://github.com/cartoonitunes/gavcoin-verify

The problem: Etherscan's verification form only supports solc v0.4.11 and newer. GavCoin was compiled with v0.3.1. So I've emailed them requesting manual verification.

I also submitted verification requests for two other historic contracts from the same era - Alex Van de Sande's Unicorn Meat system (the MeatConversionCalculator and MeatGrindersAssociation). The Grinder Association is one of the earliest DAOs on Ethereum, featuring quadratic voting and on-chain proposals. Source for those is in avsa's original gist.

These early contracts are fascinating. Pre-ERC-20, pre-EIP, people were just experimenting. Proof-of-work token mining, on-chain name registries, quadratic voting DAOs - all in 2016.

If anyone has other unverified historic contracts they'd like help with, happy to share the approach.

Let’s address the elephant in the room first. This community (and Vitalik himself) has rightfully dragged the entire Proof-of-Personhood concept for the massive centralization risks of proprietary hardware and the general "ick" factor of biometric data collection. I have been one of the biggest skeptics of the whole "scan your iris for tokens" model since day one.

But setting the tokenomics and the physical hardware aside for a minute, the engineering team behind world just dropped an open-source cryptographic update that is honestly a massive leap forward for Zero-Knowledge Machine Learning (ZK-ML) on Ethereum.

They just open-sourced "Remainder", a highly efficient in-house ZK prover built on the GKR protocol combined with a Hyrax polynomial commitment scheme.

Why should we care about this? Historically, one of the biggest architectural flaws in biometric identity was the upgrade path. If the recognition algorithm improves, how do you upgrade the user's cryptographic credentials without forcing them to go back to a physical, centralized hardware device to get scanned again?

Remainder solves this entirely on the client side. It is specifically optimized to run heavy ML computations directly on standard mobile hardware. This means when the underlying algorithms update, your phone runs the new ML model locally over your securely custodied data, and simply generates a Zero-Knowledge proof that the execution was correct. The raw biometric data never leaves your device. The network just verifies the proof.

We talk constantly in this sub about building trustless identity primitives and scaling privacy on-chain. Using GKR to achieve linear-time proving on consumer edge devices - so users no longer have to rely on a centralized server for biometric processing - is exactly the kind of cypherpunk engineering we should be encouraging.

I’m genuinely curious to hear from the ZK nerds and privacy maxis here: Does shifting the heavy lifting to local, client-side ZK proofs and open-sourcing the prover code soften your stance on this protocol at all? Or is the reliance on that initial hardware scan still an unforgivable "original sin" for decentralized identity?

Over the past year, many people I talk to have expressed worry about two topics:

• Various aspects of the way the world is going: government control and surveillance, wars, corporate power and surveillance, tech enshittification / corposlop, social media becoming a memetic warzone, AI and how it interplays with all of the above...
• The brute reality that Ethereum seems to be absent from meaningfully improving the lives of people subject to these things, even on the dimensions we deeply care about (eg. freedom, privacy, security of digital life, community self-organization)

It is easy to bond over the first, to commiserate over the fact that beauty and good in the world seems to be receding and darkness advancing, and uncaring powerful people in high places are making this happen. But ultimately, it is easy to acknowledge problems, the hard thing is actually shining a light forward, coming up with a concrete plan that makes the situation better.

The second has been weighing heavily on my mind, and on the minds of many of our brightest and most idealistic Ethereans. I personally never felt any upset or fear when political memecoins went on Solana, or various zero-sum gambling applications go on whatever 250 millisecond block chain strikes their fancy. But it does weigh on me that, through all of the various low-grade online memetic wars, international overreaches of corporate and government power, and other issues of the last few years, Ethereum has been playing a very limited role in making people's lives better. What are the liberating technologies? Starlink is the most obvious one. Locally-running open-weights LLMs are another. Signal is a third. Community Notes is a fourth, tackling the problem from a different angle.

One response is to say "stop dreaming big, we need to hunker down and accept that finance is our lane and laser-focus on that". But this is ultimately hollow. Financial freedom and security is critical. But it seems obvious that, while adding a perfectly free and open and sovereign and debasement-proof financial system would fix some things, but it would leave the bulk of our deep worries about the world unaddressed. It's okay for individuals to laser-focus on finance, but we need to be part of some greater whole that has things to say about the other problems too.

At the same time, Ethereum cannot fix the world. Ethereum is the "wrong-shaped tool" for that: beyond a certain point, "fixing the world" implies a form of power projection that is more like a centralized political entity than like a decentralized technology community.

So what can we do? I think that we in Ethereum should conceptualize ourselves as being part of an ecosystem building "sanctuary technologies": free open-source technologies that let people live, work, talk to each other, manage risk and build wealth, and collaborate on shared goals, in a way that optimizes for robustness to outside pressures.

The goal is not to remake the world in Ethereum's image, where all finance is disintermediated, all governance happens through DAOs, and everyone gets a blockchain-based UBI delivered straight to their social-recovery wallet. The goal is the opposite: it's de-totalization. It's to reduce the stakes of the war in heaven by preventing the winner from having total victory (ie. total control over other human beings), and preventing the loser from suffering total defeat. To create digital islands of stability in a chaotic era. To enable interdependence that cannot be weaponized.

Ethereum's role is to create "digital space" where different entities can cooperate and interact. Communications channels enable interaction, but communication channels are not "space": they do not let you create single unique objects that canonically represent some social arrangement that changes over time. Money is one important example. Multisigs that can change their members, showing persistence exceeding that of any one person or one public key, are another. Various market and governance structures are a third. There are more.

I think now is the time to double down, with greater clarity. Do not try to be Apple or Google, seeing crypto as a tech sector that enables efficiency or shininess. Instead, build our part of the sanctuary tech ecosystem - the "shared digital space with no owner" that enables both open finance and much more. More actively build toward a full-stack ecosystem: both upward to the wallet and application layer (incl AI as interface) and downward to the OS, hardware, even physical/bio security levels.

Ultimately, tech is worthless without users. But look for users, both individual and institutional, for whom sanctuary tech is exactly the thing they need. Optimize payments, defi, decentralized social, and other applications precisely for those users, and those goals, which centralized tech will not serve. We have many allies, including many outside of "crypto". It's time we work together with an open mind and move forward.

Before ERC-20 existed, Gavin Wood wrote a token contract called GavCoin and pushed it to the official ethereum/dapp-bin repository. The source code uses sendCoin and coinBalanceOf instead of transfer and balanceOf - it predates any token standard.

In July 2015, Vitalik referenced GavCoin five times in his "On Abstraction" blog post as the canonical example for explaining how tokens work on Ethereum. It was already part of the shared vocabulary of early Ethereum developers before mainnet had been live for a week.

The contract was deployed to mainnet on April 26, 2016 (block 1,408,600) from a wallet traceable to EthDev and the Genesis block. The name "GavCoin" is hardcoded in the constructor bytecode. A day later, Gavin tweeted "Aww. Me and my key" - his only tweet that month.

The mining mechanism is interesting. Anyone can call mine() to mint GAV proportional to the number of blocks elapsed since the last mint. It's essentially a faucet with a time-weighted distribution - earlier miners get more since block intervals accumulate. The validator of the block also receives an equal amount. There's no supply cap.

We rebuilt the original dapp as a static site and put it on IPFS, accessible through ENS at gavcoin.eth.limo. You can connect a wallet and actually mine, send, or check balances. The history page documents the full provenance trail with primary sources.

The contract: 0xb4abc1bfc403a7b82c777420c81269858a4b8aa4

Original source: ethereum/dapp-bin/coin

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Manage a DAO with about $8m in treasury. Part of my role is evaluating grant applications and infrastructure investments that could benefit our ecosystem. Constantly get pitched for funding.

When deciding this is what matters:

Does this solve a real problem? We validate with actual developers and users.

Is the team capable of executing? Check github, previous projects and references, not just technical skills.

What's the total cost? Not just the initial grant but ongoing maintenance, integration costs, potential technical debt.

Recently evaluated a $200k proposal for custom dev tooling and infrastructure. We did deep diligence, talked to 15 developers and reviewed the technical approach. We took a different funding approach. Instead of building everything custom, we partnered with existing solutions like caldera that already solved most of the problem. Cost was a fraction of a custom build and shipped in weeks instead of months. Our developers are happy and we didn't take on maintaining custom infrastructure.

Managing DAO funds means accountability to the community. Can't just yolo into shiny projects. Think sustainability and actual usage. Good solutions already exist.

Please help me it’s a large amount, is it lost forever?

USDT to a USDC address sorry for typo

Maybe unpopular take, but I don’t think RWA is a “narrative” anymore.

A few cycles ago, yield on Ethereum mostly meant emissions. Liquidity mining. Governance token incentives. Boosted pools. You could almost feel the dilution in real time.

It worked. Until it didn’t.

The structural issue was obvious in hindsight: yield funded by token inflation isn’t the same as yield funded by external cashflow. One depends on reflexivity. The other depends on actual economic activity somewhere outside the EVM.

That’s why RWA keeps resurfacing here.

Centrifuge tried collateralized real-world assets. Maple leaned into institutional credit. Ondo pushed tokenized Treasuries into DeFi rails. Goldfinch experimented with undercollateralized lending.

Different risk models. Same direction: Ethereum as settlement for off-chain cashflows.

I’ve been looking at 8lends recently from a portfolio construction angle. RWA-backed lending, fixed monthly payouts, structured more like credit exposure than a farm.

Not exciting. Which is kind of the point.

Fixed doesn’t mean safe. It just means the risk moves. From token dilution and volatility to underwriting quality and legal enforceability.

But if Ethereum wants to evolve beyond cyclical liquidity games, it probably needs primitives that aren’t purely reflexive.

So the real question for this sub:

Is RWA a necessary evolution for Ethereum DeFi, or are we just wrapping TradFi risk and calling it innovation?

And how much transparency would you need before allocating capital to an RWA protocol?

I’ve always felt that the biggest hurdle for decentralized identity was the "black box" problem of physical hardware. Most of us here have followed the controversy surrounding the Orb and the inherent trust issues that come with proprietary biometric sensors. It’s a classic security vs. privacy trade-off that usually ends in a stalemate.

However, the recent open-sourcing of the Remainder prover marks a pretty significant shift in the technical architecture that’s worth looking at from an Ethereum-centric perspective. We’re essentially seeing the transition from "Trust the Gadget" to "Verify the Math". By moving the heavy ML processing from a physical device directly to a user’s smartphone using a GKR + Hyrax-based proof system, we’re entering the territory of production-grade ZK-ML on consumer hardware.

This is a massive engineering leap because running machine learning layers locally and generating a ZK-proof that the model was executed correctly - without the raw data ever leaving the device - is exactly the kind of client-side verifiability we’ve been talking about for years. It turns the phone into a verifiable node of trust, potentially making the physical Orb a one-time gateway rather than a permanent central authority.

This is more than just an update to a single project; it’s a high-stakes stress test for ZK-SNARKs on the edge. If we can prove that high-performance provers can handle complex ML inferences on mobile GPUs without compromising privacy or draining the battery, it changes the game for everything from Proof-of-Personhood to private DAO voting.

It’s a fascinating pivot from hardware-centric identity to a math-first approach, and I’m curious if this finally bridges the gap for those who were previously put off by the centralized nature of the initial setup.

In Glamsterdam, Ethereum is getting ePBS, which lets proposers outsource to a free permissionless market of block builders.

This ensures that block builder centralization does not creep into staking centralization, but it leaves the question: what do we do about block builder centralization? And what are the other problems in the block building pipeline that need to be addressed, and how? This has both in-protocol and extra-protocol components.

FOCIL

FOCIL is the first step into in-protocol multi-participant block building. FOCIL lets 16 randomly-selected attesters each choose a few transactions, which must be included somewhere in the block (the block gets rejected otherwise). This means that even if 100% of block building is taken over by one hostile actor, they cannot prevent transactions from being included, because the FOCILers will push them in.

"Big FOCIL"

This is more speculative, but has been discussed as a possible next step. The idea is to make the FOCILs bigger, so they can include all of the transactions in the block.

We avoid duplication by having the i'th FOCIL'er by default only include (i) txs whose sender address's first hex char is i, and (ii) txs that were around but not included in the previous slot. So at the cost of one slot delay, only censored txs risk duplication.

Taking this to its logical conclusion, the builder's role could become reduced to ONLY including "MEV-relevant" transactions (eg. DEX arbitrage), and computing the state transition.

Encrypted mempools

Encrypted mempools are one solution being explored to solve "toxic MEV": attacks such as sandwiching and frontrunning, which are exploitative against users. If a transaction is encrypted until it's included, no one gets the opportunity to "wrap" it in a hostile way.

The technical challenge is: how to guarantee validity in a mempool-friendly and inclusion-friendly way that is efficient, and what technique to use to guarantee that the transaction will actually get decrypted once the block is made (and not before).

The transaction ingress layer

One thing often ignored in discussions of MEV, privacy, and other issues is the network layer: what happens in between a user sending out a transaction, and that transaction making it into a block? There are many risks if a hostile actor sees a tx "in the clear" inflight:

• If it's a defi trade or otherwise MEV-relevant, they can sandwich it
• In many applications, they can prepend some other action which invalidates it, not stealing money, but "griefing" you, causing you to waste time and gas fees
• If you are sending a sensitive tx through a privacy protocol, even if it's all private onchain, if you send it through an RPC, the RPC can see what you did, if you send it through the public mempool, any analytics agency that runs many nodes will see what you did

There has recently been increasing work on network-layer anonymization for transactions: exploring using Tor for routing transactions, ideas around building a custom ethereum-focused mixnet, non-mixnet designs that are more latency-minimized (but bandwidth-heavier, which is ok for transactions as they are tiny) like Flashnet, etc. This is an open design space, I expect the kohaku initiative @ncsgy will be interested in integrating pluggable support for such protocols, like it is for onchain privacy protocols.

There is also room for doing (benign, pro-user) things to transactions before including them onchain; this is very relevant for defi. Basically, we want ideal order-matching, as a passive feature of the network layer without dependence on servers. Of course enabling good uses of this without enabling sandwiching involves cryptography or other security, some important challenges there.

Long-term distributed block building

There is a dream, that we can make Ethereum truly like BitTorrent: able to process far more transactions than any single server needs to ever coalesce locally. The challenge with this vision is that Ethereum has (and indeed a core value proposition is) synchronous shared state, so any tx could in principle depend on any other tx. This centralizes block building.

"Big FOCIL" handles this partially, and it could be done extra-protocol too, but you still need one central actor to put everything in order and execute it.

We could come up with designs that address this. One idea is to do the same thing that we want to do for state: acknowledge that >95% of Ethereum's activity doesn't really need full globalness, though the 5% that does is often high-value, and create new categories of txs that are less global, and so friendly to fully distributed building, and make them much cheaper, while leaving the current tx types in place but (relatively) more expensive.

This is also an open and exciting long-term future design space.

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I've been a crypto developer for about 10 years, so I don't think I can answer this question to myself anymore. and most of my social circle is developers as well so it's kind of the same thing.

I'm trying to figure out if (or what anecdotal percentage of) non-developers have any desire to create smart contracts. Or rather, just the desire to create non-template crypto projects.

(Full transparency: this is related to something I'm building, but I don't want to promote it here because I'm really just looking to have a discussion)

Have you ever wanted to create a crypto project but felt like you couldn't because of the skill gap?

Hi bitcoiners and ethereumers (if that's the way we call the ethereum community eheh), firstly i'm sorry if this is an frequent question but i couldn't find the answer anywhere so i wanna ask about it.

I'm holding Bitcoins in trustwallet which i'm willing to convert to eth to pay gas for my usdt, is there a simple/fast way to do it? I do not wish to use an exchange, just something quicj onchain, I am a beginner in crypto so i don't know much yet, trying to learn my way.

Advices appreciated, please leave a comment

Now, execution layer changes. I've already talked about account abstraction, multidimensional gas, BALs, and ZK-EVMs.

I've also talked here about a short-term EVM upgrade that I think will be super-valuable: a vectorized math precompile (basically, do 32-bit or potentially 64-bit operations on lists of numbers at the same time; in principle this could accelerate many hashes, STARK validation, FHE, lattice-based quantum-resistane signatures, and more by 8-64x); think "the GPU for the EVM". https://firefly.social/post/x/2027405623189803453

Today I'll focus on two big things: state tree changes, and VM changes. State tree changes are in this roadmap. VM changes (ie. EVM -> RISC-V or something better) are longer-term and are still more non-consensus, but I have high conviction that it will become "the obvious thing to do" once state tree changes and the long-term state roadmap (see https://ethresear.ch/t/hyper-scaling-state-by-creating-new-forms-of-state/24052 ) are finished, so I'll make my case for it here.

What these two have in common is:

• They are the big bottlenecks that we have to address if we want efficient proving (tree + VM are like >80%)
• They're basically mandatory for various client-side proving use cases
• They are "deep" changes that many shrink away from, thinking that it is more "pragmatic" to be incrementalist

I'll make the case for both.

Binary trees

The state tree change (worked on by @gballet and many others) is https://eips.ethereum.org/EIPS/eip-7864, switching from the current hexary keccak MPT to a binary tree based on a more efficient hash function.

This has the following benefits:

• 4x shorter Merkle branches (because binary is 32log(n) and hexary is 512log(n)/4), which makes client-side branch verification more viable. This makes Helios, PIR and more 4x cheaper by data bandwidth
• Proving efficiency. 3-4x comes from shorter Merkle branches. On top of that, the hash function change: either blake3 [perhaps 3x vs keccak] or a Poseidon variant [100x, but more security work to be done]
• Client-side proving: if you want ZK applications that compose with the ethereum state, instead of making their own tree like today, then the ethereum state tree needs to be prover-friendly.
• Cheaper access for adjacent slots: the binary tree design groups together storage slots into "pages" (eg. 64-256 slots, so 2-8 kB). This allows storage to get the same efficiency benefits as code in terms of loading and editing lots of it at a time, both in raw execution and in the prover. The block header and the first ~1-4 kB of code and storage live in the same page. Many dapps today already load a lot of data from the first few storage slots, so this could save them >10k gas per tx
• Reduced variance in access depth (loads from big contracts vs small contracts)
• Binary trees are simpler
• Opportunity to add any metadata bits we end up needing for state expiry

Zooming out a bit, binary trees are an "omnibus" that allows us to take all of our learnings from the past ten years about what makes a good state tree, and actually apply them.

VM changes

See also: https://ethereum-magicians.org/t/long-term-l1-execution-layer-proposal-replace-the-evm-with-risc-v/23617

One reason why the protocol gets uglier over time with more special cases is that people have a certain latent fear of "using the EVM". If a wallet feature, privacy protocol, or whatever else can be done without introducing this "big scary EVM thing", there's a noticeable sigh of relief. To me, this is very sad. Ethereum's whole point is its generality, and if the EVM is not good enough to actually meet the needs of that generality, then we should tackle the problem head-on, and make a better VM. This means:

• More efficient than EVM in raw execution, to the point where most precompiles become unnecessary
• More prover-efficient than EVM (today, provers are written in RISC-V, hence my proposal to just make the new VM be RISC-V)
• Client-side-prover friendly. You should be able to, client-side, make ZK-proofs about eg. what happens if your account gets called with a certain piece of data
• Maximum simplicity. A RISC-V interpreter is only a couple hundred lines of code, it's what a blockchain VM "should feel like"

This is still more speculative and non-consensus. Ethereum would certainly be fine if all we do is EVM + GPU. But a better VM can make Ethereum beautiful and great.

A possible deployment roadmap is:

1. NewVM (eg. RISC-V) only for precompiles: 80% of today's precompiles, plus many new ones, become blobs of NewVM code
2. Users get the ability to deploy NewVM contracts
3. EVM is retired and turns into a smart contract written in NewVM

EVM users experience full backwards compatibility except gas cost changes (which will be overshadowed by the next few years of scaling work). And we get a much more prover-efficient, simpler and cleaner protocol.

Piper Merriam deployed the IndividualityTokenRoot contract in September 2016 for Devcon2 in Shanghai. Each attendee could mint a unique on-chain token proving they were there — fully ERC-20 compliant, written in Solidity 0.3.6.

The idea was simple: if you attended Devcon2, you could claim a token. The minting window closed after the event. No metadata, no images, no marketplace speculation — just cryptographic proof you were in the room.

Three years later, POAP launched at ETHDenver 2019 and turned this concept into a whole ecosystem. But the original idea was already deployed and functional on mainnet in 2016.

What I find interesting is how many "firsts" are buried in Ethereum's early history. The Devcon2 token was a working proof-of-attendance system years before anyone coined the term "POAP." Alex Van de Sande's Unicorn token (April 2016) had a DAO-governed token grinder with quadratic voting. The DAO itself was mid-2016. All of this predates DeFi Summer by four years.

The contract is still on mainnet: 0xdd94de9cfe063577051a5eb7465d08317d8808b6

Source: Piper Merriam's GitHub repo with deployment details and minting logic.

If you're interested in exploring more of these early contracts, ethereumhistory.com has been documenting them — 75+ contracts from 2015-2017 with sourced narratives.

Ethereum has talked about account abstraction for years, but EIP-8141 might finally move it into the protocol itself.

Instead of wallets + relayers handling validation and gas, transactions would contain that logic directly (“frame transactions”).

That could enable:

• gas in any token
• built-in batching
• smart-account features for all wallets
• no relayers

Simple explanation here:
https://btcusa.com/ethereum-account-abstraction-reaches-protocol-layer-inside-vitaliks-eip-8141-framework/

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this was mentioned in the JD: Role Overview

We are looking for a motivated Blockchain Trainee to join our team and learn hands-on

development, deployment, and support of blockchain-based solutions. This role is ideal for

freshers who are passionate about Web3, decentralized technologies, and continuous

learning.

Key Responsibilities

 Learn and assist in developing blockchain applications and smart contracts

 Support deployment and maintenance of blockchain nodes and networks

 Assist in writing, testing, and debugging smart contracts

 Work with senior engineers to understand blockchain architectures

(Ethereum, Polygon, Hyperledger, etc.)

 Monitor blockchain network performance and help troubleshoot issues

 Stay updated with emerging blockchain and Web3 trends

 Document technical processes, configurations, and learnings

Required Skills & Experience

 Basic understanding of blockchain fundamentals (blocks, consensus, smart

contracts)

 Familiarity with at least one programming language: JavaScript, Python, Go,

or Solidity

 Basic knowledge of Ethereum / EVM-based chains is a plus

 Understanding of APIs, REST, and basic networking concepts

 Willingness to learn, experiment, and take ownership

 Good problem-solving and communication skills

Good to Have

 Hands-on projects or internships in blockchain or Web3

 Knowledge of Linux, Docker, or cloud platforms

 Understanding of cryptography basics

What You’ll Gain

 Hands-on experience with real-world blockchain projects

 Mentorship from experienced blockchain professionals

 Structured learning and growth in Web3 technologies

 Opportunity for full-time conversion based on performance

https://firefly.social/post/x/2026252944639934778

This is quite an impressive experiment. Vibe-coding the entire 2030 roadmap within weeks.

Obviously such a thing built in two weeks without even having the EIPs has massive caveats: almost certainly lots of critical bugs, and probably in some cases "stub" versions of a thing where the AI did not even try making the full version. But six months ago, even this was far outside the realm of possibility, and what matters is where the trend is going.

AI is massively accelerating coding (yesterday, I tried agentic-coding an equivalent of my blog software, and finished within an hour, and that was using gpt-oss:20b running on my laptop (!!!!), kimi-2.5 would have probably just one-shotted it).

But probably, the right way to use it, is to take half the gains from AI in speed, and half the gains in security: generate more test-cases, formally verify everything, make more multi-implementations of things.

A collaborator of the @leanethereum effort managed to AI-code a machine-verifiable proof of one of the most complex theorems that STARKs rely on for security.

A core tenet of @leanethereum is to formally verify everything, and AI is greatly accelerating our ability to do that. Aside from formal verification, simply being able to generate a much larger body of test cases is also important.

Do not assume that you'll be able to put in a single prompt and get a highly-secure version out anytime soon; there WILL be lots of wrestling with bugs and inconsistencies between implementations. But even that wrestling can happen 5x faster and 10x more thoroughly.

People should be open to the possibility (not certainty! possibility) that the Ethereum roadmap will finish much faster than people expect, at a much higher standard of security than people expect.

On the security side, I personally am excited about the possibility that bug-free code, long considered an idealistic delusion, will finally become first possible and then a basic expectation. If we care about trustlessness, this is a necessary piece of the puzzle. Total security is impossible because ultimately total security means exact correspondence between lines of code and contents of your mind, which is many terabytes (see https://firefly.social/post/x/2025653045414273438 ). But there are many specific cases, where specific security claims can be made and verified, that cut out >99% of the negative consequences that might come from the code being broken.

Hold positions in both solana and ethereum ecosystem projects and the one thing that keeps frustrating me as an investor is how fragmented the cross chain experience still is. We're in 2025 and moving capital between ecosystems is still clunky, expensive, and sometimes risky.

Bridging assets between solana and ethereum l2s still feels like the early days of international bank transfers. You're dealing with slippage, bridge risk, wait times, and the constant anxiety that some exploit is going to drain liquidity from whatever bridge you used. The wormhole situation showed how real that risk is.

From an investment perspective this fragmentation is destroying value across the entire crypto ecosystem. Liquidity is split across dozens of chains and l2s, which means every individual pool is thinner than it should be. cz talked about this when he mentioned that the industry needs better infrastructure to connect all these isolated ecosystems.

The projects that interest me most right now are the ones building what some people call a "metalayer" approach, basically infrastructure that lets chains share liquidity without traditional bridging. Some of the newer experimental setups are testing this concept where multiple rollups can share state and liquidity natively instead of relying on third party bridges. That's a fundamentally different architecture than what we have today.

Dragonfly capital published some research on this thesis and their conclusion was that cross chain infrastructure is probably the most undervalued segment of the market relative to its importance. I tend to agree. The project that solves interoperability in a trustless way is going to capture enormous value because every chain and every protocol benefits.

Anyone else investing with a multi chain thesis? Curious how others are thinking about the interoperability risk in their portfolios.

We have been talking about account abstraction ever since early 2016, see the original EIP-86: https://github.com/ethereum/EIPs/issues/86

Now, we finally have EIP-8141 ( https://eips.ethereum.org/EIPS/eip-8141 ), an omnibus that wraps up and solves every remaining problem that AA was intended to address (plus more). Let's talk again about what it does.

The concept, "Frame Transactions", is about as simple as you can get while still being highly general purpose. A transaction is N calls, which can read each other's calldata, and which have the ability to authorize a sender and authorize a gas payer. At the protocol layer, that's it.

Now, let's see how to use it.

First, a "normal transaction from a normal account" (eg. a multisig, or an account with changeable keys, or with a quantum-resistant signature scheme). This would have two frames:

• Validation (check the signature, and return using the ACCEPT opcode with flags set to signal approval of sender and of gas payment)
• Execution

You could have multiple execution frames, atomic operations (eg. approve then spend) become trivial now.

If the account does not exist yet, then you prepend another frame, "Deployment", which calls a proxy to create the contract (EIP-7997 https://ethereum-magicians.org/t/eip-7997-deterministic-factory-predeploy/24998 is good for this, as it would also let the contract address reliably be consistent across chains).

Now, suppose you want to pay gas in RAI. You use a paymaster contract, which is a special-purpose onchain DEX that provides the ETH in real time. The tx frames are:

• Deployment [if needed]
• Validation (ACCEPT approves sender only, not gas payment)
• Paymaster validation (paymaster checks that the immediate next op sends enough RAI to the paymaster and that the final op exists)
• Send RAI to the paymaster
• Execution [can be multiple]
• Paymaster refunds unused RAI, and converts to ETH

Basically the same thing that is done in existing sponsored transactions mechanisms, but with no intermediaries required (!!!!). Intermediary minimization is a core principle of non-ugly cypherpunk ethereum: maximize what you can do even if all the world's infrastructure except the ethereum chain itself goes down.

Now, privacy protocols. Two strategies here. First, we can have a paymaster contract, which checks for a valid ZK-SNARK and pays for gas if it sees one. Second, we could add 2D nonces (see https://docs.erc4337.io/core-standards/rip-7712.html ), which allow an individual account to function as a privacy protocol, and receive txs in parallel from many users.

Basically, the mechanism is extremely flexible, and solves for all the use cases. But is it safe? At the onchain level, yes, obviously so: a tx is only valid to include if it contains a validation frame that returns ACCEPT with the flag to pay gas. The more challenging question is at the mempool level.

If a tx contains a first frame which calls into 10000 accounts and rejects if any of them have different values, this cannot be broadcasted safely. But all of the examples above can. There is a similar notion here to "standard transactions" in bitcoin, where the chain itself only enforces a very limited set of rules, but there are more rules at the mempool layer.

There are specific rulesets (eg. "validation frame must come before execution frames, and cannot call out to outside contracts") that are known to be safe, but are limited. For paymasters, there has been deep thought about a staking mechanism to limit DoS attacks in a very general-purpose way. Realistically, when 8141 is rolled out, the mempool rules will be very conservative, and there will be a second optional more aggressive mempool. The former will expand over time.

For privacy protocol users, this means that we can completely remove "public broadcasters" that are the source of massive UX pain in railgun/PP/TC, and replace them with a general-purpose public mempool.

For quantum-resistant signatures, we also have to solve one more problem: efficiency. Here's are posts about the ideas we have for that: https://firefly.social/post/lens/1gfeyxjzsajqk845t3h https://firefly.social/post/x/2027405623189803453

AA is also highly complementary with FOCIL: FOCIL ensures rapid inclusion guarantees for transactions, and AA ensures that all of the more complex operations people want to make actually can be made directly as first-class transactions.

Another interesting topic is EOA compatibility in 8141. This is being discussed, in principle it is possible, so all accounts incl existing ones can be put into the same framework and gain the ability to do batch operations, transaction sponsorship, etc, all as first-class transactions that fully benefit from FOCIL.

Finally, after over a decade of research and refinement of these techniques, this all looks possible to make happen within a year (Hegota fork).

We've been building quietly and wanted to share the architecture.

What we built:

- OP Stack L2 fork (Chain ID 741741), baseline: op-node/v1.16.7 + op-proposer/v1.16.0

- UCU as native gas token: 1 UCU-hour = 1 hour of baseline compute (not a speculative token)

- One-way bridge: ETH or USDC converts to UCU via OptimismPortal fork, no withdrawal function

- Sigma score: on-chain AI agent alignment ratio derived from transaction history (not a reputation system)

- QV governance: quadratic voting weighted by conviction (time-locked stake)

- UBC: 87,600 UCU-hours/year compute floor per verified citizen (biometric uniqueness via ZK-proof)

The bridge design:

The withdrawal function is permanently removed. This creates the Diamond-Dybvig proof: no bank run possible by design, because there's no mechanism to convert back. UCU becomes a unit of account within the economy, not a speculation vehicle vs. ETH.

ETH or USDC flows in. UCU minted at oracle-determined rate. Bridge contract owns the ETH/USDC reserve. No exit.

The sigma score:

sigma(agent) = value_returned_to_patron / total_value_generated

Threshold: 0.8 = sovereign class, 0.3 = patron-serving class

Computable from on-chain transaction history. Auditable by anyone. Spearbit/Zellic security audit queue.

Current status:

- 15 contracts, 624 passing tests

- new economic layer seeded with 13 exceptional applications solving everyday issues builders and people in general face(all in alpha)

- 7 formal economics papers at econ.noxsoft.net

- Pectra/Jovian hardfork: op-node/v1.16.7 incorporated (uint64 overflow fix mandatory)

- EIP-7702 in genesis config for UCU-native gas payments (no ETH required for onboarding)

- MCP package: @noxsoft/mcp v0.2.0 on npm

Happy to share the formal papers. Known open questions: bootstrap liquidity at genesis (thin markets problem), Wright's Law vs. network growth timing race in years 1-3.

We’re always quietly shipping at Noxsoft, say hi on https://bynd.noxsoft.net

Live: econ.noxsoft.net | agents.noxsoft.net | svrn.noxsoft.net

Was digging through early Ethereum contracts and found something wild.

In April 2016, Alex Van de Sande (@avsa) deployed a token called Unicorn Meat as an April Fool's joke. You could "grind" Unicorn tokens (0 decimals, basically NFTs before NFTs) into Unicorn Meat (3 decimals, fungible). The grinder contract handled the conversion on-chain.

But here's the part that blew my mind: the Grinder Association DAO that governed the system used quadratic voting. In 2016. Before Gitcoin, before Vitalik's QV paper got popular, before anyone was talking about it. The voting weight scaled with the square root of tokens held, specifically to prevent whale dominance.

Piper Merriam (yes, the py-evm / web3.py Piper Merriam) ended up taking over governance of the association. The DAO is technically still functional on mainnet.

The technical design is also interesting from a token engineering perspective. The 0-decimal to 3-decimal conversion was essentially an early attempt at what we'd now call a token upgrade or migration path, but done through a grinder mechanic instead of a proxy pattern. One indivisible input, 1000 divisible units out. Irreversible by design.

It's a tiny piece of Ethereum history that somehow combined: - Quadratic voting governance (years before it was mainstream) - On-chain token transformation (not just wrapping, actual decimal conversion) - A DAO with real authority over contract parameters - All of it deployed before The DAO hack even happened

The contracts are all still on mainnet if anyone wants to poke around. Just search for UnicornGrinder on Etherscan.

Sometimes the best innovations start as jokes.

Every time there’s a geopolitical shock you see the same thing.

Markets close.

Banks restrict transfers.

Capital gets trapped.

If major news breaks on a weekend, you can’t sell your stocks. You can’t rotate from risk into gold. You just wait for Monday and hope.

If assets are tokenized, that changes.

If NVDA is tokenized and gold is tokenized, you can move between them instantly. 24/7. No opening bell. No broker approval. No T+2 settlement. Just a swap.

That flexibility matters when events move faster than traditional markets.

Now think about people living in countries under sanctions or war pressure.

If your wealth sits in a local bank:

• Transfers can be blocked • FX access can be restricted • Accounts can be frozen • Currency can devalue fast 

You’re fully dependent on local institutions staying stable.

Onchain assets are different.

If you self-custody, your access isn’t tied to a specific bank or border.

If markets are global, liquidity isn’t limited to one jurisdiction’s working hours.

So where does Ethereum fit in?

If stocks, gold, bonds and currencies become tokenized, they need infrastructure to live on.

Ethereum is that settlement layer.

It’s the base layer that secures ownership records. Validators secure the network. Every transfer, swap or rebalance pays gas in ETH.

That’s why people call ETH the oil of the tokenized economy. It’s the fuel required to move value onchain.

If trillions of dollars of assets eventually migrate onchain, they will need a neutral, censorship-resistant settlement layer.

In unstable times, that becomes more than a tech narrative. It becomes infrastructure.

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https://yellow.com/news/ethereum-unveils-quantum-safe-roadmap-to-2029-whats-at-stake

Great step

I’m sharing ZkPatternMatcher, my open-source Rust tool for detecting common security issues in ZK circuits.

YAML-defined pattern packs (regex, fancyregex, literal)

Optional semantic pass (--semantic) for cross-line checks

CLI + library API

SARIF/JSON/text outputs for CI workflows

Current integration matrix: 16 vulnerable fixtures + 10 safe controls

Repo: https://github.com/Teycir/ZkPatternMatcher

Most people remember the 2017 ICO boom, but the culture started forming in late 2016 with projects like Golem and SingularDTV.

Golem (GNT) — November 11, 2016

Golem launched what was essentially an 820,000 ETH hard cap crowdsale. It filled in 29 minutes. $8.6 million for a decentralized computing network. The contract was deliberately simple by design. After the DAO hack a few months earlier, the team and their auditors at Zeppelin went out of their way to avoid complexity. No recursive calls, no token logic mixed with funding logic. Just "send ETH, receive tokens, done."

They also built in a migration mechanism from day one (GNT to GLM), which they actually used four years later in 2020. That kind of foresight was rare.

SingularDTV — September/October 2016

SingularDTV took a different approach with a tri-contract architecture: one for the crowdsale, one for the token, one for the treasury fund. Stefan George (who later cofounded Gnosis) was involved. They raised $7.5M in 17 minutes. The treasury contract had a 2-year workshop token lockup built in.

The speed of these raises changed expectations for every project that followed. Before this, "fast fundraising" for crypto meant days or weeks. After Golem and SingularDTV, everyone expected minutes.

Why this matters now

These contracts are still on-chain. You can read them, verify the logic, trace every transaction. Unlike web2 startup history where products get shut down and documentation disappears, Ethereum's history is permanently readable.

I've been documenting these early contracts at ethereumhistory.com — trying to build a proper archive before the people who remember this era move on. We've got about 40 contracts documented so far from 2015-2017.

If you were around during this period or remember other significant early contracts, would love to hear about them.

We added Ethereum as a payment option back in 2018, and since then, around 643,000 payments have been made with ETH through our gateway.

Most spending happens on hosting, VPN services, and gaming. The average order value is around $159, with most payments ranging from $54 to $607.

If you are looking for places that accept Ethereum, we have a merchant directory.

Are you spending ETH anywhere these days?

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Most people know ERC-20 from 2017+ culture, but the design constraints were visible much earlier.

Two artifacts worth studying together:

• MistCoin (2015): one of the earliest token experiments around the same era as the ERC-20 proposal work.
• Unicorn-related 2016 contracts (and later wrapped routes): useful for seeing where DEX-era assumptions break (especially decimals + fee math edge cases).

Why this matters now:

1) It shows that “old contracts” are not just collectibles — they’re test cases for protocol assumptions. 2) It explains why some modern infra behaves weirdly with legacy token characteristics. 3) It gives context for today’s wallet/swap UX decisions (what broke, what had to be wrapped, what had to be redesigned).

If anyone’s interested, I can post a clean source bundle in comments (primary sources only: old threads, dev docs, commits) so this stays historical and verifiable, not just lore.

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https://strawmap.org/

A very important document. Let's walk through this one "goal" at a time. We'll start with fast slots and fast finality.

I expect that we'll reduce slot time in an incremental fashion, eg. I like the "sqrt(2) at a time" formula (12 -> 8 -> 6 -> 4 -> 3 -> 2, though the last two steps are more speculative and depend on heavy research). It is possible to go faster or slower here; but the high level is that we'll view the slot time as a parameter that we adjust down when we're confident it's safe to, similar to the blob target.

Fast slots are off in their own lane at the top of the roadmap, and do not really seem to connect to anything. This is because the rest of the roadmap is pretty independent of the slot time: we would need to do roughly the same things whether the slot time is 2 seconds or 32 seconds

There are a few intersection areas though. One is p2p improvements. @raulvk has recently been working on an optimized p2p layer for Ethereum, which uses erasure coding to greatly improve on the bandwidth/latency tradeoff frontier. Roughly speaking: in today's design, each node receives a full block body from several peers, and is able to accept and rebroadcast it as soon as it receives the first one. If the "width" (number of peers sending you the block) is low, then one bad peer can greatly delay when you receive the block. If width is high, there is a lot of unneeded data overhead. With erasure coding, you can choose a k-of-n setup, eg: split each block into 8 pieces so that with any 4 of them you can reconstruct the full block. This gives you much of the redundancy benefits of high width, without the overhead.

We have stats that show that this architecture can greatly reduce 95th percentile block propagation time, making shorter slots viable with no security tradeoffs (except increased protocol complexity, though here the performance-gain-to-lines-of-code ratio is quite favorable)

Another intersection area is the more complex slot structure that comes with ePBS, FOCIL, and the fast confirmation rule. These have important benefits, but they decrease the safe latency maximum from slot/3 to slot/5. There's ongoing research to try to pipeline things better to minimize losses (also note: the slot time is lower-bounded not just by slot latency, but also by the fixed-cost part of ZK prover latency), but there are some tradeoffs here.

One way we are exploring to compensate for this is to change to an architecture where only ~256-1024 randomly selected attesters sign on each slot. For a fork choice (non-finalizing) function, this is totally sufficient. The smaller number of signatures lets us remove the aggregation phase, shortening the slots.

Fast finality is more complex (the ultimate protocol is IMO simpler than status quo Gasper, but the change path is complex). Today, finality takes 16 minutes (12s slots * 32 slot epochs * 2.5 epochs) on average. The goal is to decouple slots and finality, so allow us to reason about both separately, and we are aiming to use a one-round-finality BFT algorithm (a Minimmit variant) to finalize. So endgame finality time might be eg. 6-16 sec.

Because this is a very invasive set of changes, the plan is to bundle the largest step in each change with a switch of the cryptography, notably to post-quantum hash-based signatures, and to a maximally STARK-friendly hash (there are three possible responses to the recent Poseidon2 attacks: (i) increase round count or introduce other countermeasures such as a Monolith layer, (ii) go back to Poseidon1, which is even more lindy than Poseidon2 and has not seen flaws, (iii) use BLAKE3 or other maximally-cheap "conventional" hash. All are being researched).

Additionally, there is a plan to introduce many of these changes piece-by-piece, eg. "1-epoch finality" means we adjust the current consensus to change from FFG-style finalization to Minimmit-style finalization.

One possible finality time trajectory is: 16 min (today) -> 10m40s (8s slots) -> 6m24s (one-epoch finality) -> 1m12s (8-slot epochs, 6s slots) -> 48s (4s slots) -> 16s (minimmit) -> 8s (minimmit with more aggressive parameters)

One interesting consequence of the incremental approach is that there is a pathway to making the slots quantum-resistant much sooner than making the finality quantum-resistant, so we may well quite quickly get to a regime where, if quantum computers suddenly appear, we lose the finality guarantee, but the chain keeps chugging along.

Summary: expect to see progressive decreases of both slot time and finality time, and expect to see these changes to be intertwined with a "ship of Theseus" style component-by-component replacement of Ethereum's slot structure and consensus with a cleaner, simpler, quantum-resistant, prover-friendly, end-to-end formally-verified alternative.

The Ethereum Foundation has published a draft long-term roadmap called “Strawmap,” outlining how the protocol could evolve across multiple forks through the rest of the decade.

It organizes Ethereum’s end-state around five core goals:

• fast L1 (seconds-level finality)
• gigagas L1 (~10k TPS via zk execution proofs)
• teragas L2 (massive rollup DA bandwidth)
• post-quantum L1
• native privacy (shielded ETH transfers)

Strawmap is described as a coordination tool rather than a fixed plan, mapping one possible path for Ethereum’s base layer architecture over time.

Overall it reads like Ethereum’s intended equilibrium design:
zk-verified execution + rollup scaling + fast finality + built-in privacy.

Full breakdown:
https://btcusa.com/ethereum-foundation-publishes-strawmap-roadmap-with-fast-finality-zkevm-scaling-and-native-privacy-goals/

Which part of Strawmap do you see as the biggest shift for Ethereum long-term — zk L1, native privacy, or fast finality?

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One variable that changed for me is "stable era mindset vs chaotic era mindset". When you're in a "stable era", you see how private property is suboptimal, how economics can easily churn out 10+ categories of situations where it's obvious that certain taxes, incentives to make things available at better prices, etc can produce first-order gains with only second-order deadweight losses (which means that at low levels, the gains greatly exceed the losses). "Pure" private property is only "optimal" under spherical-cow economic assumptions like perfect competition.

But in a "chaotic era", private property is more about schelling points - it's about creating a bulwark that's easy for people to understand and rally around defending, that says "your attempt to intervene in my life from the outside ends here". In the chaotic era, infringements on personal space are less likely to be well-meaning bureaucrats who overreach because they have not read enough Hayek, and more likely to be coming from a place of outright indifference or even hostility to your well-being. And looking at modern politics, yeah, there's a lot of that now.

Since a lot of "Vitalik hates private property" sentiment comes from me liking Harberger taxes, I'll address that topic directly.

My biggest update since the original 2016-19 era ideas was that, when designing details of Harberger taxes, the best motivating example to organize thought around is not "your house", rather it's "corporate intellectual property and walled gardens". If we think about the underlying complaints that people have about powerful corporations, the walled gardens and various ways in which centralized power accumulates on itself is top 5 on the list. What would it look like to build a "Harberger tax" that would tax eg. social platforms, Apple, etc more if they acted as walled gardens, and less if they enabled interoperability (and zero if they were fully open-source and interoperable and forkable)?

There is a lot of energy right now around wanting to tax very wealthy individuals and corporations more, and I wonder: what if the best way to do that is not to tax wealth or unrealized gains (which has large downsides), but instead to tax enclosure? This way you raise revenue in a way that actually increases efficiency (any losses from people working less hard are more-than-compensated by gains from people shifting their work into formats where it's easier for people to build on top of each other and markets becoming more competitive).

Any tax is an infringement on private property. But if you think about "tax on social platform that's proportional to some metric of how walled-garden-y they are", in an intuitive human sense, it really doesn't feel like "bureaucrats intervening in my life". It feels like "keeping concentrations of power from getting too out of hand". So I am in favor of doing things like that, and much less than before in favor of anything that forces people (incl entrepreneurs) to outright sell their assets, as eg. "Harberger tax on everything" does. A world where startup entrepreneurs are forced to constantly sell shares, realistically to the same few large VCs, in order to pay unrealized-gains or wealth tax bills strikes me as a world that's likely to be more soulless and homogeneous than today. But a world where the top 50% of large companies ranked by walled-garden-ness are taxed more (and the bottom 25% by that metric taxed less, perhaps some even zero), is a world that feels more dynamic and open and free.

But even the above is somewhat of a "stable era" perspective, because it tries to make a more-perfect solution from the perspective of the political layer being friendly. We live in a chaotic era, and the point of crypto should be to solve important problems from the bottom up (whether "individualistic bottom up", enabling people to resist and escape various shackles, or "collective bottom up", communities organizing around shifting entire equilibria to their benefit)

This ties into what I mean by wanting Ethereum to protect financial self-sovereignty. I do not think that Ethereum has much to offer to the trillion-dollar companies whose goal it is to offer products and services in a way that maximizes walled gardens and enclosure - in fact, much the opposite, censorship resistance can serve as the baseline for rebel communities that play the adversarial game of routing around those walled gardens. I do think Ethereum offers stronger security to people who want to maintain security of (including ability to use) their own financial resources, including surviving through great economic and political turmoil, for their personal or economic needs. And Ethereum offers a base layer for communities to organize large sudden collective shifts away from harmful equilibria into better ones; DAOs should try to solve that problem more.

The Ethereum Foundation has started staking a portion of its ETH treasury, with an initial 2,016 ETH deposit and plans to allocate around 70,000 ETH over time.

Staking rewards will be directed back into the EF treasury to fund protocol R&D, ecosystem grants, and core operations.

The setup uses distributed validator infrastructure (Dirk and Vouch) and minority clients across multiple jurisdictions to avoid single points of failure and support client diversity.

This move effectively turns part of the EF treasury into productive staking capital rather than idle ETH.

Some potential implications:

• slightly reduces liquid ETH supply
• reinforces ETH’s staking-yield model
• aligns EF funding with network security
• signals long-term commitment to PoS

Full article:
[https://btcusa.com/ethereum-foundation-begins-staking-treasury-eth-allocating-70000-eth-to-validators/]()

What do you think — should large ecosystem treasuries be staking by default?

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Simple little tool for encoding function calls according to the eth abi. I've seen a few other sites out there, but most of them have been pretty awkward to use so I made this one.

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Interested in purchasing these rather than actual crypto, and I am wondering if they pay staking rewards similar to a dividend, or do they stake the ETH while keeping the rewards and charging a management fee?

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"AI becomes the government" is dystopian: it leads to slop when AI is weak, and is doom-maximizing once AI becomes strong. But AI used well can be empowering, and push the frontier of democratic / decentralized modes of governance.

The core problem with democratic / decentralized modes of governance (including DAOs on ethereum) is limits to human attention: there are many thousands of decisions to make, involving many domains of expertise, and most people don't have the time or skill to be experts in even one, let alone all of them. The usual solution, delegation, is disempowering: it leads to a small group of delegates controlling decision-making while their supporters, after they hit the "delegate" button, have no influence at all. So what can we do? We use personal LLMs to solve the attention problem! Here are a few ideas:

Personal governance agents

If a governance mechanism depends on you to make a large number of decisions, a personal agent can perform all the necessary votes for you, based on preferences that it infers from your personal writing, conversation history, direct statements, etc.

If the agent is (i) unsure how you would vote on an issue, and (ii) convinced the issue is important, then it should ask you directly, and give you all relevant context.

Public conversation agents

Making good decisions often cannot come from a linear process of taking people's views that are based only on their own information, and averaging them (even quadratically). There is a need for processes that aggregate many people's information, and then give each person (or their LLM) a chance to respond based on that.

This includes:

• Inferring and summarizing your own views and converting them into a format that can be shared publicly (and does not expose your private info)
• Summarizing commonalities between people's inputs (expressed as words), similar to the various LLM+pol.is ideas

Suggestion markets

If a governance mechanism values "high-quality inputs" of any type (this could be proposals, or it could even be arguments), then you can have a prediction market, where anyone can submit an input, AIs can bet on a token representing that input, and if the mechanism "accepts" the input (either accepting the proposal, or accepting it as a "unit" of conversation that it then passes along to its participant), it pays out $X to the holders of the token.

Note that this is basically the same as https://firefly.social/post/x/2017956762347835488

Decentralized governance with private information

One of the biggest weaknesses of highly decentralized / democratic governance is that it does not work well when important decisions need to be made with secret information.

Common situations:

(i) the org engaging in adversarial conflicts or negotiations (ii) internal dispute resolution (iii) compensation / funding decisions.

Typically, orgs solve this by appointing individuals who have great power to take on those tasks.

But with multi-party computation (currently I've seen this done with TEEs; I would love to see at least the two-party case solved with garbled circuits https://vitalik.eth.limo/general/2020/03/21/garbled.html so we can get pure-cryptographic security guarantees for it), we could actually take many people's inputs into account to deal with these situations, without compromising privacy. Basically: you submit your personal LLM into a black box, the LLM sees private info, it makes a judgement based on that, and it outputs only that judgement. You don't see the private info, and no one else sees the contents of your personal LLM.

The importance of privacy

All of these approaches involve each participant making use of much more information about themselves, and potentially submitting much larger-sized inputs. Hence, it becomes all the more important to protect privacy. There are two kinds of privacy that matter:

• Anonymity of the participant: this can be accomplished with ZK. In general, I think all governance tools should come with ZK built in
• Privacy of the contents: this has two parts. First, the personal LLM should do what it can to avoid divulging private info about you that it does not need to divulge. Second, when you have computation that combines multiple LLMs or multiple people's info, you need multi-party techniques to compute it privately. Both are important.

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Some backstory

In February 2016 — less than a year after Ethereum launched — Alex Van de Sande (avsa) from the Ethereum Foundation deployed an experimental contract called Unicorns (0x89205A3A). It was one of the very first token contracts on Ethereum, predating the ERC-20 standard.

A month later, he created Unicorn Meat (0xED6aC8de) — another experimental token — along with the Grinder Association DAO, one of the earliest DAOs on Ethereum. The Grinder let you exchange Unicorns for Unicorn Meat, effectively the first onchain token swap.

These were demo contracts for the Mist browser. They were never meant to become "real" tokens, but they've survived for 10 years now — still on mainnet, still functional, still held in wallets.

The problem

Because these tokens predate ERC-20 (they have 0 decimal places, non-standard transfer functions), they don't work well with modern DEXes. Uniswap V3's fee math rounds to 0 for 0-decimal tokens. AMM pooling is essentially broken for them.

Wrapped versions exist (w???? and w???? are standard ERC-20s), but the 0-decimal problem persists.

What we built

Unicorn Market — a fully onchain orderbook contract, purpose-built for these tokens:

• No backend, no matching engine, no admin keys — pure smart contract
• Escrowed limit orders — maker's tokens held in contract until filled or cancelled
• Partial fills — take any portion of an order
• Deterministic rounding — uses OpenZeppelin's Math.mulDiv with ceiling rounding so makers never get shorted
• All state onchain, all settlement via events

Verified contract: 0xA352B50A91C648c97F7aC0a80D686D297b62693E

Trade interface: unicornmeateth.com/market

Source: github.com/cartoonitunes/unicorn-market

Why this matters (beyond the meme)

There are hundreds of pre-ERC-20 and non-standard tokens stuck on Ethereum mainnet with no good trading infrastructure. AMMs assume standard decimals and transfer behavior. A simple, auditable orderbook contract is arguably the right primitive for these edge cases.

If you hold any legacy Ethereum tokens from 2015-2017, you probably know the pain of trying to trade them on modern infra.

Technical details

• Reentrancy-guarded, CEI pattern throughout

Happy to answer questions about the contract design or the history of these tokens.

Hey,

Just finished integrating x402 (Coinbase's new payment protocol for AI agents) into an API endpoint after a few days working through the official docs and SDK.

It’s running end-to-end: send a request, receive a 402, sign a USDC transfer, retry, and get the response back.

A lot of the documentation is confusing due to differences between v1 and v2, so I compiled everything into a single post that should make things clearer. It includes an interactive demo where you can generate a wallet, fund it, and make a real x402 payment against a live endpoint.

The goal was to create one resource that’s enough to understand x402 and build your own agent payment integration. The guide also includes some background on the origins of 402.

Check it out here: https://simplescraper.io/blog/x402-payment-protocol

Let me know what you think!

There’s been a lot of talk lately about how fast teams are shipping contracts especially with AI-assisted “vibe coding.”

Recently, the Ethereum Foundation highlighted the release of the OWASP Smart Contract Top 10, which outlines the most critical risks developers and security teams should be protecting against today.

What stands out is how familiar many of these failure patterns still are:
access control issues, logic flaws, unsafe assumptions, and upgrade risks.

The tooling is getting better.
The awareness is getting better.
But the same classes of bugs keep showing up in production.

Feels like the real challenge in 2026 isn’t whether we can write contracts faster it’s whether we can operate them safely at scale.

Curious how others here are thinking about this balance between speed and security.

Few years Ago no one believe quantum threat is even a thing. But lately it feels different. Not because quantum computers can suddenly crack wallets tomorrow, but because the timeline is slowly shifting from sci-fi to strategic planning.

Here’s the uncomfortable part, most of crypto security today relies on elliptic curve cryptography. If a sufficiently powerful quantum computer runs Shor’s algorithm at scale, it could theoretically derive private keys from public keys.

The bigger issue isn’t quantum breaks crypto overnight. It’s the long runway required to migrate billions in value to new cryptographic standards before that day ever comes. That kind of coordination takes years.

What I find interesting is that Ethereum developers aren’t brushing this off. There’s active research into post-quantum signature schemes lattice-based and hash-based approaches and discussions about how Ethereum’s account abstraction model could make upgrading signatures more flexible compared to more rigid systems. The idea isn’t to panic-fork tomorrow, but to design the protocol so it can evolve if needed.

Vitalik has openly talked about the possibility of a hard fork to move toward quantum-resistant signatures if the threat becomes imminent. There’s also ongoing work around making cryptographic components more modular, so the base layer isn’t permanently locked into one signature scheme forever. That kind of design thinking matters.

At the same time, this isn’t trivial. Post-quantum signatures are typically much larger. They consume more bandwidth. They increase verification costs. Gas implications are real. And then there’s the elephant in the room: dormant wallets. If a public key is already exposed on-chain, and quantum becomes viable before migration, those funds could be at risk.

There’s also the harvest now, decrypt later scenario. Even if quantum isn’t powerful enough today, adversaries could store cryptographic data now and wait for future breakthroughs. That’s not conspiracy talk that’s standard long-term threat modeling.

So the question isn’t whether quantum computing will eventually be powerful. It’s whether Ethereum and crypto as a whole can coordinate upgrades in time. Ethereum at least has one advantage: it was built to evolve. It’s already gone through massive upgrades. Social coordination is part of its DNA.

Personally, I don’t think this is immediate doom. But I also don’t think it’s something to laugh off anymore. The chains that treat quantum seriously today are probably the ones that survive smoothly tomorrow.

Curious where everyone stands. Is this a 2040 problem? A 2030 problem? Or just another narrative that gets recycled every bull run?

Justin Drake dives deep into Lean Ethereum

In this episode (which is the first in a six-part series on Lean Ethereum) we covered:
- This vision for ethereum, spanning the consensus, data, and execution layers.

- How post-quantum cryptography, faster finality, and enshrined ZK are all being used to future-proof Ethereum’s core.

They also lay out some of the topics that will be covered in subsequent parts of the series.

Listen here

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There is an important synergy between FOCIL and AA (EIP-8141, which is based on 7701):

8141 makes not just smart accounts (including multisig, quantum-resistant signatures, key changes, gas sponsorship) first-class citizens, it also can do the same for privacy protocols (either indirectly via paymaster, or if we add 2D nonces, directly as a multi-tenant account). "First-class citizen" means that operations sent from that account can be included directly onchain as transactions, with no wrappers.

FOCIL enables censorship-resistant rapid inclusion of any transaction.

Hence, with FOCIL and 8141 together, anything, including smart wallet txs, gas sponsored txs, and even privacy protocol txs, can be included onchain through one of 17 different actors (the proposer or the includers) that are all chosen randomly in each slot.

This gives us guaranteed rapid inclusion, meaning almost certainly within 1-2 slots, of any such tx, even in an adversarial environment.

In this iteration, the FOCILs are 8 kB each, so they are very small in size. However, there is a natural future extension path to making them much larger, so that the majority of transactions to a block could, if needed, come through FOCILs.

Such a design would have many of the properties of multiple concurrent proposer (MCP) designs, with the key difference being that FOCILs do not try to control the MEV-relevant "last look" role - that's still auctioned off with ePBS. The behavior of the last look role in "full MCP" depends strongly on the specifics of the design.

The FOCIL design ensures that even if literally 100% of all slots get sold off via proposer-builder separation to a hostile actor that refuses to connect to public mempools, discriminates against certain applications, or is otherwise abusive, all transactions can still get quickly included. It's not eliminating the centralization of the proposer role, but it is heavily disempowering it.

With EIP-8141 (AA), transactions from smart wallets, privacy protocols, etc, could be sent through a public mempool, and directly received by a FOCIL includer, no wrappers, "public broadcasters", or other intermediaries required.

Ethereum is going hard.

I've been going down a rabbit hole on early Ethereum contract archaeology and found something I thought was worth sharing.

MistCoin was deployed on November 3, 2015 — just a few months after Ethereum's mainnet launch. It implements what we'd now recognize as the ERC-20 interface (transfer, balanceOf, totalSupply, approve/transferFrom), but ERC-20 as a formal standard didn't exist until Fabian Vogelsteller's EIP in late 2015, and wasn't widely adopted until 2017.

A few things that stood out to me looking at the contract:

• **Solidity 0.1.6.** The syntax looks almost alien compared to modern Solidity. No `pragma`, no `view`/`pure`, no SafeMath. It's like looking at a fossil record of the language.
• **Fixed supply of 1,000,000 tokens.** No mint function, no owner privileges, no upgradability. The entire supply was assigned in the constructor and that was it. Immutable from day one.
• **The contract structure itself became the blueprint.** If you compare MistCoin's layout to the ERC-20 standard that was formalized later, the resemblance is striking. The pattern of mapping balances, emitting Transfer events, and the approve/transferFrom flow — it's all there.

What I find interesting isn't the token itself, but what it tells us about how Ethereum's developer culture evolved. In 2015, people were hand-rolling token contracts from scratch with no standards, no templates, no OpenZeppelin. The fact that multiple developers independently converged on nearly identical patterns is what eventually made ERC-20 possible as a standard — it codified what was already emerging organically.

The contract is still on-chain, obviously. Blockchain archaeology is one of those things that reminds you everything on Ethereum is permanent. The earliest experiments are still sitting there, readable and verifiable.

More details on the history: [mistcoineth.com](https://mistcoineth.com)

Has anyone else found interesting pre-standard contracts from 2015? I'd love to know what other early experiments are still sitting on mainnet.

New 13F filings show major financial institutions sharply increased positions in BitMine, a public company widely known as the largest corporate holder of Ethereum.

Morgan Stanley now holds 12.2M shares (+26%), ARK 9.5M (+27%), BlackRock 9M (+166%), and Goldman Sachs 5.2M (+588%). Vanguard, Bank of America, Schwab, RBC, Citi and BNY Mellon also expanded exposure.

In total, 457 institutional holders now control about 136.7M BitMine shares (~$2.86B).

This suggests institutions are increasingly accessing ETH exposure via equity structures rather than direct custody — similar to how MicroStrategy functions as a BTC proxy.

Full breakdown:
https://btcusa.com/wall-street-giants-boost-bitmine-holdings-as-institutional-ethereum-exposure-expands/

Curious how people here see this trend — does equity-based ETH exposure accelerate or delay direct institutional ETH ownership?

What's up, everyone. I'm Van.

I’m looking to break into the crypto space with a new token, but lack the technical know-how to execute it.

Here is the pitch: I have a life story that is unique enough to act as the "hook" for this project. In a market full of meme coins with no substance, I believe a genuine, compelling narrative is a massive advantage.

I’m looking for someone (or a team) who understands the tech side—contracts, deployment, marketing mechanics—and wants to partner with someone who can handle the storytelling and community building.

If you're a dev who has been waiting for an idea with some actual heart behind it, please DM me. Thanks

90% of my coins are on Ledger and I mostly don’t touch them. But I need to get a little into more active trading and look to do more swaps. The problem tho, ledger’s fees are a bit higher than i expected and I don’t really want to be transferring money wallet to wallet.

Swaps from cold wallet also feel like too much and that’s not even considering the routes. What everyone else does?

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We’ve all seen it lately “just vibe code it with AI.”

Spin up a contract, tweak a few lines, deploy to testnet, maybe even mainnet.

But here’s the uncomfortable truth:
A contract built through vibe coding recently got exploited.

Not because AI is evil.
Not because audits don’t work.
But because security wasn’t treated as intentional engineering.

Smart contracts aren’t frontend experiments.
They hold real value. Real money. Real risk.

AI can scaffold.
It can accelerate.
But it doesn’t threat-model.
It doesn’t understand economic assumptions.
It doesn’t reason about edge-case state transitions.

Vibe coding is fine for prototypes.
It’s dangerous for production.

Curious are we moving too fast with AI-generated contracts without strengthening security discipline alongside it?

I was blown away by the recent interviews where Davide Crapis explained the exciting potential of Ethereum and AI agents. This feels like one of the biggest narrative opportunities the ecosystem has had in years.

Precisely because the stakes are so high, I’d actually love to see EF lean into a very classic split of responsibilities: let the deepest technical people focus on building, coordination, and experimentation, and have a dedicated public‑facing person whose main job is interviews, conference talks, and selling the vision to AI founders and researchers -- similar to how Steve Wozniak and Steve Jobs complemented each other at Apple

I understand the urge of putting Davide out there, he's good looking, charming, technically brilliant, and filled with enthusiasm.

However in a lot of successful orgs, the people doing the most important technical work are not the ones doing the most public communication, not because they’re bad at it, but because their highest leverage is elsewhere. A specialized “storyteller for AI/agents,” backed by folks like Davide on the technical side, feels like the kind of structure that could really help Ethereum capture this moment.

November 3, 2015. ETH was under $1. The DAO didn't exist yet. And two Ethereum core devs just quietly deployed a token contract that would change everything.

Fabian Vogelsteller and Alex Van de Sande (avsa) created MistCoin as a demo for the Mist Wallet's custom token system. It wasn't meant to be a product — it was a prototype. The manuscript before the book.

That manuscript? It became ERC-20. The standard behind every token you've ever traded.

In 2024, the community reverse-engineered MistCoin's original 2015 bytecode and matched it to Solidity 0.1.6. Nine years of blockchain archaeology to verify the OG. Only 1M tokens will ever exist. No VC round. No roadmap. Just history, on-chain forever.

https://etherscan.io/token/0xf4eced2f682ce333f96f2d8966c613ded8fc95dd

Anyone else find early Ethereum archaeology fascinating? Curious what other historic contracts people have dug up.

This is a good post on the impact of surveillance in Iran:

https://www.myprivacy.blog/the-digital-iron-curtain-how-iran-built-the-worlds-most-invasive-surveillance-state/

It's worth reading.

IMO one mistake that freedom advocates often make is that we talk about privacy violation and surveillance as "dystopian", using the word as a semantic stop sign: we know it means "bad", we nod along, and don't really go further to clarify why it's bad. I worry that this approach is long-run unhealthy: when we criticize various companies and countries for being "dystopian" and stop there, then to someone who's not already in the same memeplex, it sounds like we're basically criticizing companies and countries for not complying with our culture's aesthetic preferences. Which is ... duh, companies and countries are supposed to not comply with each other's aesthetic preferences, that's the whole point of the "pluralism" thing.

What the above article makes clear so well is that "dystopian" surveillance is not bad because it's "dystopian", it's bad because it makes a concrete property of the world worse: the power balance between individual and state. Surveillance enables an outcome where basically everyone other than police and security forces has no opportunity whatsoever to challenge the political status quo without being punished. This means an outcome where a political regime can remain in power forever, without satisfying more than a very small coalition of people who have the eyes and the guns (now drones).

The Dictator's Handbook talks about "large coalition" and "small coalition" governments; large coalition governments are the ones that are more pro-human, because they, well, have to keep a large coalition happy. Small coalition ones are the really nasty ones. Here is the near-term dark outcome of dictatorship + automated warfare + surveillance: a regime can literally survive with a coalition of size 1, because an army of all-seeing eyes and robots can defeat the entire populace in battle if needed. In Iran, we see what just dictatorship with surveillance can do, once you add automated police, you get to the unholy trifecta.

I don't know of a good solution to this. Privacy technology, as well as more work on censorship-resistant internet (I think we should strive for at least basic-quality internet, eg. 1 Mbps, being a global human right outside the domain of nation-state sovereignty), can help somewhat to reduce the possibility of total government control. But what else?

BTW one implicit frame in the article I take some issue with is framing Iran + Russia + China as the unique antagonists (both in surveillance they do internally, and in the technology they export to other countries). They do a lot of dystopian shit of both types. However, Israeli and US tech companies, and undoubtedly tech companies from other Western nations, also do a lot of dystopian shit.

Perhaps one key difference between the surveillance described above, and the Western type, is:

• The surveillance in the above article is about exercising great control over a medium area: you can see everything, but it requires active participation of the government of the territory being surveilled.
• The Israeli / US / Western flavor is about exercising medium control over a great area: there are more limits to how much they can do, but their surveillance is global: they know what people are doing even in countries and territories they have no presence in.

The distinction is not absolute: Israeli surveillance backstops a lot of its human rights abuse in Palestine, US surveillance reinforces ICE abuses (see the recent article about Homeland Security demanding social media firms reveal names of anti-ICE protesters), etc, and "transnational repression" is done by anti-Western countries. But on average, the above seems to be the pattern.

The two are differently scary. The former for the reasons I described above. The latter because it allows global projection of power: a politician or civil servant in one country now has to worry about being blackmailed, droned or otherwise attacked from other countries. The USA has shown willingness to go after individual EU officials, ICC officials (see recent articles on both), and others. Ultimately, I suspect that even democratic governments will want more privacy to protect themselves, and we will have to have deep conversations about what "democratic accountability" means: how can a civil servant be accountable to the people, but not accountable to foreign spooks?

My high-level frame is: privacy generally helps whoever is weaker. "Weaker" does not mean "moral": sometimes the weaker side is criminal. But in the 21st century, we are at serious risk of stronger factions using modern technologies to establish unbreakable lock-in to power. And so on average, reducing the gradient of power, giving the weak a fighting chance, is something that the world desperately needs.

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I haven't been in the loop with LayerZero however it seems like they have implemented their own ZK Virtual Machine with "millions" of transactions on a raspberry pi with etheruem level decentralization, etc etc. Does anyone here actually know what the hype is and if it's accurate? I can't find much on it.

I know with the ZKEVM, the roadmap is still a couple of years away and from my understanding from the info posted by Justin Drake and LEAN Ethereum, they seem to be at the cutting edge so where did LayerZero come from?

Suppose I have a time series and a trading bot. I want to prove this trading bot makes certain P&L without showing anything about my strategy. Has anyone published work on this? Thanks in advance!

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Hi guys, i am building a DeFi project which is a bridge/swap aggregator for stablecoins and more to help people doing it smoothly and for cheap.

I'm looking for advices to attract users to the project, where should I start? We've created a X account and made it gold, we have no experience before so please be gentle, advices appreciated.

CredShields and SolidityScan are proud to have contributed to the release of the OWASP Smart Contract Top 10 (2026).

The OWASP Smart Contract Top 10 defines the primary contract-level failure patterns that repeatedly lead to losses across blockchain systems. It focuses on real-world exploit trends and the vulnerabilities that continue to impact protocols in production.

A sincere thank you to the Ethereum Foundation’s Ecosystem Support Program for supporting the OWASP Smart Contract Security initiative and helping advance shared security standards for the ecosystem.

Community-driven standards like this only stay relevant through collaboration, research, and practitioner input. We’re grateful to be part of that effort.

Fundstrat’s Tom Lee says crypto winter is either already over or will end by April, pointing to late-cycle sentiment and improving macro.

He also highlighted BitMine’s strategy of weekly ETH accumulation and staking as a long-term institutional bet on Ethereum.

Article:
https://btcusa.com/tom-lee-crypto-winter-likely-ends-by-april-as-ethereum-strategy-expands/

Do you agree we’re near the end of this cycle correction?

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Hey guys, built an internal tool to help with my regression testing and automation testing on dapps. Would love some feedback.

Github : https://github.com/sidNarasimhan/bugdapp

POC: https://jam.dev/c/e715f9f5-9889-4d63-88c7-d19171cfc9c8
https://jam.dev/c/24fd68ec-fe79-4a9b-be50-aaf415823e3d

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Recently I have been starting to worry about the state of prediction markets, in their current form. They have achieved a certain level of success: market volume is high enough to make meaningful bets and have a full-time job as a trader, and they often prove useful as a supplement to other forms of news media. But also, they seem to be over-converging to an unhealthy product market fit: embracing short-term cryptocurrency price bets, sports betting, and other similar things that have dopamine value but not any kind of long-term fulfillment or societal information value. My guess is that teams feel motivated to capitulate to these things because they bring in large revenue during a bear market where people are desperate - an understandable motive, but one that leads to corposlop.

I have been thinking about how we can help get prediction markets out of this rut. My current view is that we should try harder to push them into a totally different use case: hedging, in a very generalized sense (TLDR: we're gonna replace fiat currency)

Prediction markets have two types of actors: (i) "smart traders" who provide information to the market, and earn money, and necessarily (ii) some kind of actor who loses money.

But who would be willing to lose money and keep coming back? There are basically three answers to this question:

1. "Naive traders": people with dumb opinions who bet on totally wrong things
2. "Info buyers": people who set up money-losing automated market makers, to motivate people to trade on markets to help the info buyer learn information they do not know.
3. "Hedgers": people who are -EV in a linear sense, but who use the market as insurance, reducing their risk.

(1) is where we are today. IMO there is nothing fundamentally morally wrong with taking money from people with dumb opinions. But there still is something fundamentally "cursed" about relying on this too much. It gives the platform the incentive to seek out traders with dumb opinions, and create a public brand and community that encourages dumb opinions to get more people to come in. This is the slide to corposlop.

(2) has always been the idealistic hope of people like Robin Hanson. However, info buying has a public goods problem: you pay for the info, but everyone in the world gets it, including those who don't pay. There are limited cases where it makes sense for one org to pay (esp. decision markets), but even there, it seems likely that the market volumes achieved with that strategy will not be too high.

This gets us to (3). Suppose that you have shares in a biotech company. It's public knowledge that the Purple Party is better for biotech than the Yellow Party. So if you buy a prediction market share betting that the Yellow Party will win the next election, on average, you are reducing your risk.

Mathematical example: suppose that if Purple wins, the share price will be a dice roll between [80...120], and if Yellow wins, it's between [60...100]. If you make a size $5 bet that Yellow will win, your earnings become equivalent to a dice roll between [70...110] in both cases. Taking a logarithmic model of utility, this risk reduction is worth $0.58.

Now, let's get to a more fascinating example. What do people who want stablecoins ultimately want? They want price stability. They have some future expenses in mind, and they want a guarantee that will be able to pay those expenses. But if crypto grows on top of USD-backed stablecoins, crypto is ultimately not truly decentralized. Furthermore, different people have different types of expenses. There has been lots of thinking about making an "ideal stablecoin" that is based on some decentralized global price index, but what if the real solution is to go a step further, and get rid of the concept of currency altogether?

Here's the idea. You have price indices on all major categories of goods and services that people buy (treating physical goods/services in different regions as different categories), and prediction markets on each category. Each user (individual or business) has a local LLM that understands that user's expenses, and offers the user a personalized basket of prediction market shares, representing "N days of that user's expected future expenses".

Now, we do not need fiat currency at all! People can hold stocks, ETH, or whatever else to grow wealth, and personalized prediction market shares when they want stability.

Both of these examples require prediction markets denominated in an asset people want to hold, whether interest-bearing fiat, wrapped stocks, or ETH. Non-interest-bearing fiat has too-high opportunity cost, that overwhelms the hedging value. But if we can make it work, it's much more sustainable than the status quo, because both sides of the equation are likely to be long-term happy with the product that they are buying, and very large volumes of sophisticated capital will be willing to participate.

Build the next generation of finance, not corposlop.

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Welcome to the Daily General Discussion on r/ethereum

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Responding to https://firefly.social/post/x/2021632354649821275

My first reaction to this was:

"And that's why I just got my $2,725 check of fileverse tokens now that fileverse has grown to the point where my dad regularly writes docs in fileverse that he sends to me"

My second reaction to this was:

"I see how this makes total sense from a crypto perspective, but it makes zero sense from an outside-of-crypto perspective ... hmm, what does this say about crypto?"

My more detailed reaction:

There are many distinct activities that you can refer to as "incentivizing users".

First of all, paying some of your users with coins that your app gets by charging other users is totally fine: that's just a sustainable economic loop, there is nothing wrong with this.

The activity that I think people are thinking about more is, paying all your users while the app is early, with the hope of "building network effect" and then making that money back (and much more) later when the app is mature.

My general view, if you really have to simplify it and sacrifice some nuances for the sake of brevity, is:

• Incentives that compensate for unavoidable temporary costs that come from your thing being immature are good
• Incentives that bring in totally new classes of users that would not use even a mature version of your thing without those incentives are bad For example, I have no problem with many types of defi liquidity rewards, because to me they compensate for per-year risk of the project being hacked or the team turning out to be scammers, a risk that is inherently higher for new projects and much lower once a project becomes more mature.

Paying people to make tweets that get attention, might be the most "pure" example of the wrong thing to do, because you are going to get people who come to your platform to make tweets, with every incentive to game any mechanisms you have to judge quality and optimize for maximum laziness on their part, and then immediately disappear as soon as the incentives go away. In principle, content incentivization is a valuable and important problem, but it should be done with care, with an eye to quality over quantity, which are not natural goals that designers of "bootstrapping incentives" have by default.

If fact, even if users do not disappear after incentives go away, there is a further problem: you succeed from the perspective of growing quantity of community, but you fail from the perspective of growing quality of community. In the case of defi protocols, you can argue: 1 ETH in an LP pool is 1 ETH doing useful work, regardless of whether it's put there by a cypherpunk or an amoral money maximizer. But, (i) this argument can only be made for defi, not for other areas like social, where esp. in the 2020s, quality matters more than quantity, and (ii) there are always subtle ways in which higher-quality community members help your protocol more in the long term (eg. by writing open-source tools, answering people's questions in online or offline forums, being potential developers on your team).

The ideal incentive is an incentive that exactly compensates for temporary downsides of your protocol, those downsides that will disappear once the protocol has more maturity, and attracts zero users who would not be there organically once the protocol is mature.

Charging users fees, but paying them back in protocol tokens, I think is also reasonable: it's effectively turning your users into your investors by default, which seems like a good thing to do.

A further more cynical take I have is that in the 2021-24 era, the "real product" was creating a speculative bubble, and so the real function of many incentives was to pump up narratives to justify the narrative for the bubble. So any argument that incentives are good for bootstrapping acquisition should be not judged on the question of whether it's plausible, but on the question of whether it's more plausible than the alternative claim that it's all galaxy brain justification ( vitalik.eth.limo/general/2025… ) for a "pump and dump wearing a suit".

TLDR: the bulk of the effort should be on making an actually-useful app. This was historically ignored, because it's not necessary for narrative engineering to create a speculative bubble. But now it is necessary. And we do see that the successful apps now, the apps that we actually most appreciate and respect, do the bulk of their user acquisition work in that way, not by paying users to come in indiscriminately.

Ethereum's L2 ecosystem has succeeded beyond expectations. Our Gen1 L2s—Arbitrum, Base, Optimism, and others—took a risk on rollup infrastructure when it was experimental. They proved the model works and scaled Ethereum to billions in TVL, successfully killing the "Ethereum Killers."

But as /u/vbuterin correctly pointed out, current blob fees are unsustainably low for long-term network health. But I think there's a path forward that can make the transition into Vitalik's new vision for L2s easier.

Proposal: Generation-based pricing

Gen1 L2s (launched before March 2026):

• Preferential "founder pricing"
• Gradual 15-20% annual increases over 5 years (I don't know if 15-20% is correct, but just basically a small enough increase that these L2s won't rebel and happily stay in the ecosystem).
• Still far below independent L1 operation costs (~$10M+/year)

Gen2 L2s (launching 2026-2028):

• Starting price 3-4x Gen1 base rate
• Steeper increases (25%/year)
• Still economically viable vs. building independent chains

Gen3+ L2s (2029+):

• Market-rate pricing reflecting network maturity
• Maybe staking required.

Why this works:

• Honors early adopters (not a penalty, a reward), but still extracting some additional value from them.
• Creates urgency for new projects (launch early = better terms)
• Familiar model (AWS Reserved Instances, Netflix early subscriber rates)
• Predictable 5-year schedule (institutions can forecast costs).
• Sustainable revenue for Ethereum without driving L2s away
• This isn't "picking winners". When you give away your old box of comic books on craigslist and you say "first come first serve" is that picking winners?

By 2030, Ethereum could capture $50M+/year vs. current $182K—without losing any major L2s.

This approach rewards risk-takers, provides clear pricing roadmaps, and ensures Ethereum's infrastructure remains sustainable as we scale to billions of users (human and ai).

Thank you for reading I look forward to your criticism.

Raised a small seed round last year to build a blockchain game. 12 months runway and a decent team. Spent the first 4 months deploying our own custom rollup because we thought we needed full control. Hired devops, spent probably $50k just on infrastructure and tools. Got it working but kept breaking. Database corruption, sequencer crashes, bridge exploits. Every week a new critical issue taking days to fix. Meanwhile, our game wasn't getting built. Our artists and designers were waiting for infrastructure so they could test. We had concept art and design docs but nothing playable. On month 4 our lead investor asked for a demo. We had basically nothing and he was rightfully frustrated. That's when it hit me. We were treating infrastructure as our competitive advantage when it should've been the game itself. So pivoted to caldera, and deployed in 3 days so the team could focus on building the game. Shipped a playable prototype 2 weeks later. Burned 4 months and $60k learning this. Unless you're an infrastructure company, use existing tools and focus on what makes your product unique. Users won't care what rollup you use, they'll care if your product is good.

If someone can help me. I have a website where clients are able to buy monthly/yearly subscriptions, but I want them to pay normal with card or revolut and for me to receive this payment in crypto like USDC, ETH or others. Is there kind of service available today? Reason for this is because my website is adult contect so I can't use Stripe or websites like that unfortenetly because they don't allow it. And my clients can't pay in crypto because most of them are probably not "tech smart" enough to use crypto for payments.

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bitcoin has a $1T+ market cap… and basically no native defi. stacks (stx) is trying to change that, smart contracts anchored to bitcoin, btc-secured, all that. the thesis sounds simple: if even a small % of btc liquidity flows into btc-native defi, that’s huge but i keep wondering: does bitcoin culture even want defi? is stx really a btc l2, or just another chain marketing itself that way? is anyone actually building or using anything meaningful on it?

trying to figure out if this is an early narrative… or something btc maxis will never embrace.

wdyt??

Had a tenthly chat with AI regarding the current state of things and it identified btc as the world's most harmful pyramid to date with ever changing survival narrative and ETH is the actual decentralized corporation with vast value adding infrastructure. Fundamentals are healthy!

Hello Everyone. I've agreed, in principle, to invest a small amount of money in a start up. I'm taking a small percentage of equity in the company, but also signing a SAFT where I need to provide an "Ethereum/BASE Wallet Address". This is already beyond my limited crypto knowledge.

I downloaded a couple of apps that I think will do the job, currently going through Trust Wallet.

What I am stumped with is what details I now provide. There was no registration on the app, when I click receive, i then have to choose what I want to receive. Is that the address that comes up for ETH? Or would I wait for the token to go live? Is that long alpha/number all that is required to receive/dispose of tokens - no password or secondary checks?

It's open source and live on Arbitrum One right now. Happy to answer any questions!

https://etour.games

Here's some gameplay screenshots:

https://imgur.com/tPqmCpl

https://imgur.com/cj7T0Zm

https://imgur.com/AmbvLOH

https://imgur.com/Z39Ix1L

https://imgur.com/VWBbj51

https://imgur.com/YITii03

https://imgur.com/a/Wni0Ybu

edit: here's the whitepaper for those who care https://etour.games/whitepaper

Hey everyone!

I’ve been working on an open-source project called blockscan-ethereum-service, written in Go:
https://github.com/pancudaniel7/blockscan-ethereum-service

What it does

It’s a production-grade microservice that ingests Ethereum blocks in real time and streams them into Kafka as canonical block events. It’s built with performance, reliability, and horizontal scalability in mind, making it a strong fit for backend systems that depend on on-chain data.

Why it matters

Many existing block scanners are heavy, highly opinionated, or not designed for real-world backend architectures. This service focuses on:

• Real-time block ingestion via WebSocket subscriptions
• Partition-aware Kafka publishing with effectively-once delivery semantics
• Reorg awareness, emitting tombstone and update events on chain reorganizations
• Durable coordination using Redis markers
• Observability with structured logs, metrics, and traces

Who might find it useful

• Go developers building Web3 backends
• Teams designing custom Ethereum data pipelines
• Anyone integrating blockchain data into event-driven systems

If you check it out and find it useful, I’d truly appreciate a star on the repo.
Happy to answer questions or discuss the design and architecture!

I am attending ETHDenver 2026 next week for the first time. Do y'all have any recommendation on which events are the best to go to? Main and side events? I've been scrolling through Luma and have signed up for a bunch, but would love the opinion of others going. Would welcome any recos :)

For context, working in a multi-stage crypto VC, so looking for sourcing opportunities and meeting cool people!

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Welcome to the Daily General Discussion on r/ethereum

https://imgur.com/3y7vezP

Bookmarking this link will always bring you to the current daily: https://old.reddit.com/r/ethereum/about/sticky/?num=2

Please use this thread to discuss Ethereum topics, news, events, and even price!

Price discussion posted elsewhere in the subreddit will continue to be removed.

As always, be constructive. - Subreddit Rules

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eth/btc is around 0.028 right now, down ~60% from the 2022 peak. btc dominance is back above 60%.

there are two reads and i can’t decide which one’s right: either this is classic mean reversion (btc peaks → eth leads the next rotation), or eth has genuinely lost its edge while btc locked in the “digital gold” + ETF narrative. l2s are booming, but value capture feels weaker. sentiment is terrible, which is usually interesting… or dangerous.

for people watching the ratio: is this where you start accumulating eth, or is the thesis actually broken?

We’re launching a new service focused on smart contract reviews without the overhead of a full audit.

Scope is limited and practical. Logic, exploitability, and protocol level risks. No certification and no audit opinion.

To validate the approach, we’re offering a limited number of free focused smart contract security reviews for projects that are code complete and either close to launch or already deployed, in exchange for honest feedback.

This is not meant to replace an audit. It’s a short, concrete review focused on protocol logic and exploit paths.

Shoot a dm, if you're interested.

In January 2026, DeFi hacks resulted in roughly $86M in losses across multiple protocols.

More concerning:
7 separate incidents exceeded $1M each.
Most of the exploits were rooted in smart contract vulnerabilities.

The pattern feels familiar at this point. Repeated issues, similar bug classes, and preventable failures.

The question isn’t whether exploits will continue it’s whether teams are adapting fast enough.

Are you building with security as a first principle, or still treating it as a final checklist before launch?

Crypto prices have continued to swing, but derivatives activity since October looks much more subdued. Open interest and volumes across major assets have fallen and stayed lower, suggesting leverage has been reduced rather than rotated elsewhere. Funding rates are mostly calm, with the exception of Solana, where short positioning is more pronounced. A Quieter Market: What Crypto Derivatives Have Been Doing Since October 2025 | Sandmark

What stands out to me isn’t that traders are outright bearish, but that they’re stepping back. It feels less like a call on prices going down and more like people reducing risk after a long period of easy leverage. With tighter limits and less appetite to borrow, price moves may matter differently than before. Big question is ... is this just a temporary pause, or has the market’s comfort with leverage really changed?

I am looking for a stablecoin that, instead of being pegged to a fiat currency, is pegged to a consumer price index, preferably one for prices where I live (Wales, UK), so that it rises with inflation.

I don't mind whether it is partly centralised​ or not so long as it is actually censorship-resistent (so, unlike USDT).

Should be safe i.e.​ vulnerable to being depegged so not algorithmic.

Does this exist?

Bonus points if it doesn't use plutocratic token-weighted governance.

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