Gmgmgmgm Square Fam!
Welcome to the 4th episode of The #ICP Pulse Season 3, your daily dose of all things on $ICP
Now, without further ado, Let's get into today's episode🚀
1️⃣ $ICP Price action
Hmm. very indecisive.
Look at the chart now.
The last two candles [including today] the candles have little to no candle body, giving a strong indication that the degens are ready to move towards the upside.
MACD remains neutral today.
My next target is something around 7.8 USD and beyond with a high-volume, green candle, so I will be waiting for it.
As always, NFA so DYOR 🙂
Note that we aren't going into a deep analysis of our usual stuff, as we have to discuss what happened at the R&D Meeting, which was released on the 29th of August 2024.
2️⃣R&D Meeting Minutes August 2024 @ DFINITY HQ
🟪Host: Rostislav Rumenov, Staff Engineer & Team Lead [Networking] @ DFINITY
Agenda
Metrics By Kyle Langham
Developer Experience By Jason Ibrahim
Periodic Confirmation Design By Lara Schmidt
Voting Neuron Grants By Lara Schmidt
Canister Snapshots in DFX By Dimitris Sarlis & Andriy Berestovskyy
Deuterium Update & Use Cases By Andrea Cerulli & Dragoljub Djuric
Community Demo By Bitomni Network
1️⃣Metrics By Kyle Langham
According to Kyle,
➡️Cycles Burn on the IC had a staggering YoY growth of 168% since last August.
➡️Devs and the community seem to be cooling down in summer😎
➡️Within the top 15 subnets, 10 saw cycle brun growth over the last 90 days.
➡️3 AM UTC, 9 AM UTC, and 3 PM UTC are peak cycle burn times in 2024, which is 13% higher than non-peak times.
2️⃣Developer Experience By Jason Ibrahim
According to Jason,
➡️The explanation is around the Beryllium Milestone.
➡️This milestone is focused on Canister DevOps, allowing snapshots, logging, backtraces, and lifecycle hooks.
➡️On October 7th a bunch of these new features are expected to be shipped🚢
➡️New updates around digital assets, tutorials, rust docs, and code snippets have been added to the developer documentation.
A big shoutout to Jessiewritesx for her work.
3️⃣Periodic Confirmation Design By Lara Schmidt
According to Lara,
➡️A brief explanation of the voting grants proposal was discussed.
➡️Periodic confirmations allow to regularly set or confirm their following neurons to continue to receive voting rewards.
➡️So, if a neuron is not active for more than 6 months, their voting power will be adjusted.
➡️Here the focus is to encourage users to actively vote while making sure that fast decisions are taken in urgent cases.
➡️After the 6 month grace period, the voting power gradually decays for sleeping [inactive] neurons.
4️⃣Voting Neuron Grants By Lara Schmidt
Here, Lara continued the explanation of the voting neuron grants program, and here's what you should be aware of.
➡️The purpose of this grant program is to make sure neurons actively verify proposals and share evidence.
➡️There are 2 grants for 4 important proposal topics.
➡️There were 28 applications from 14 different teams & individuals.
➡️The final result after voting is:
IC OS Version Election ---> CodeGov & Zenith Code LLC
Participant Management & Node Admin ---> CodeGov & Aviate Labs
Protocol Canister Management ---> WaterNeuron & CodeGov
Subnet Management ---> CodeGov & Alex Lorimer
➡️More info on this discussion is available in the forum.
➡️The NNS explained series has been shipped to the foundation's YT channel.
5️⃣Canister Snapshots in DFX By Dimitris Sarlis & Andriy Berestovskyy
According to Dimitris,
➡️Canister snapshots are an easier way to backup and restore the state of the canister.
➡️The initiative was taken as it is currently possible to lose data on the IC.
➡️A brief explanation of the Canister Snapshot API was also conducted.
Here, Andriy conducted a wonderful demo with the candid UI.
According to Andriy
➡️There are also a few new commands on DFX now to facilitate this functionality.
The team is planning for the following in the future:
➡️Allowing multiple snapshots per canister.
➡️Load existing snapshots to another canister.
➡️Creating new canisters based on snapshots.
➡️Endpoints for downloading a snapshot to a local environment.
➡️Ability to upload a snapshot from local environments to the IC.
At last not least a huge shoutout to,
➡️Alexandra Zapuc the engineering lead for this section.
➡️Stefan Schneider for Message routing changes.
➡️Andriy Berestovskyy for the support while Alexandra was on leave.
➡️The SDK team for the integration of DFX and IC agents.
6️⃣Deuterium Update & Use Cases By Andrea Cerulli & Dragoljub Djuric
According to Andrea,
➡️Deuterium is the latest addition to Chain Fusion
➡️This enables canisters to directly integrate Bitcoin meta protocols like BRC20 and Runes.
➡️This enables fully decentralized Bitcoin inscriptions and indexing
➡️The integration utilizes Threshold Schnorr signatures.
➡️A brief explanation of the Bitcoin Integration was also conducted.
➡️Dragoljub conducted a wonderful demo on BTC block headers.
7️⃣Community Demo By Bitomni Network
Ray from Bitomni was present at the R&D Meeting, where he explained the BitoBridge.
According to Ray,
➡️Bitobridge is a Bitcoin-centered omnichain solution built on the IC
➡️It's currently on testnet
➡️Their focus is on creating a decentralized, secure, two-way peg solution for BTC and the BRC ecosystem.
➡️Their testnet had over 60k transaction within a month
➡️Their SNS is on the way, and the details have been published on the DFINITY forum.
➡️Ray also conducted a wonderful demo explaining how to use the bridge.
So, here I wrap up for the day.
Hats off for staying this far🫡
Feel free to share this with the #TON fam who might lack some ICP Alpha.
I'll see ya tomorrow with your weekly recap on ICP🫡
Until then, take care✌️
