Content & Review | Ethereum Chinese Weekly
Organized & Compiled | Connie
Image source: Internet
(Ethereum Chinese Weekly)
—— Building an information bridge for Chinese-speaking Ethereum users
Introduction (Ethereum Chinese Weekly)
Every Monday at 2 PM (UTC+8), the Ethereum Chinese Weekly invites well-known project engineers and KOLs in the Web3 industry to share specialized technical topics in the Ethereum industry, interpret well-known institutional research reports, analyze new projects, highlight hot topics, and more.
(Ethereum Chinese Weekly) (hereinafter referred to as (weekly)) aggregates the exciting content of the 'Ethereum Chinese Weekly', capturing the latest information and in-depth interpretations, continuously delivering the freshest and most valuable content to you.
The Ethereum Chinese Weekly and (weekly) are jointly initiated by Web3BuidlerTech and ETHPanda, supported by communities like LXDAO.
We work with you to build an information bridge for Chinese-speaking Ethereum users.
Ethereum Chinese Weekly video
The exciting content of this issue can be accessed through the following links or click 'Read the original':
YouTube:
https://youtu.be/66NOgNeh4yY
This issue's sharing materials:
https://www.notion.so/web3buidler/Web3BuidlerTech-702bd1ab80a7422586f1edac1917fa9c
Table of Contents
This issue (weekly) consists of 2 parts, taking about 10 minutes to read
1. Last week's industry information overview
Blockchain News
Data Trends
2. In-depth content interpretation
Foresight News Interview: Vitalik, 42 days in Chiang Mai
Analysis of Beam Chain
Alt-L1's Lisk migration to OP Stack mainnet launch
ERC-4337 Shared Memory Pool officially launched on Ethereum mainnet, Arbitrum, and OP
What is the necessity of Unichain? An initial exploration of Unichain
Introducing Kailua: Upgrading OP Rollup to Hybrid ZK Rollup
Last week's industry information overview
(November 11 to November 17)
Blockchain News
1. Ethereum co-founder Vitalik Buterin stated in an interview with Foresight News: 'On the internet, many people have said some strange ideas that I find odd, such as that Ethereum's values are useless, and Crypto is a gambling market. But in the Ethereum community, there are some people, including many Chinese, whose goal in participating in Ethereum is because we have some values and life ideals that we particularly care about. We want to create an open world, a decentralized blockchain and platform, and we will create sustainable applications that are better for society.'
In addition, Vitalik stated in response to the question 'How do you view Solana?' that: 'I think they are really more centralized than Ethereum. First, running a Solana node is much more difficult than running an Ethereum node; second, Solana's PoS is more centralized; third, the community has more things directly supported by the Solana Foundation. Moreover, Solana's applications have a much lower need for decentralization than Ethereum. I think some of the market goals they pursue are really different from Ethereum.'
Learn more:
https://foresightnews.pro/article/detail/71510
2. Ethereum founder Vitalik Buterin gave a speech at DevCon SEA, stating that in the future, he will promote a smaller number of ETH staking and reduce node operation requirements, including implementing stateless clients, lightweight clients, and full-chain SNARKs.
Speech video:
https://app.devcon.org/speakers
3. In a Devcon panel discussion, Vitalik Buterin, Stephen Goldfeder, Ben Jones, and Jesse Pollack discussed the challenges faced by Ethereum and its rollup-centric roadmap.
Vitalik Buterin stated: Currently, whenever users operate across multiple chains, a customized solution is required. The ideal Ethereum experience should be like using a credit card in Web2, with everything seamlessly connected in the background. 'If Ethereum cannot reach this level of experience, it will lose to other solutions that can.'
Stephen Goldfeder stated that users should not be burdened by the complexity of infrastructure and advocated for a 'unified Ethereum', envisioning seamless transitions across chains within the ecosystem.
Vitalik Buterin also emphasized the need to simplify cross-chain asset flows.
Ultimately, the panel clarified a common mission: to enhance user experience without compromising the spirit of Ethereum's decentralization, aiming to build an ecosystem centered on users rather than chains.
Learn more:
https://app.devcon.org/schedule/HZCDFP
4. On November 12, during Devcon, Ethereum Foundation (EF) core researcher Justin Drake announced the proposal Beam Chain to reset Ethereum's consensus layer.
Drake stated that the existing Beacon Chain (Ethereum's consensus chain) has been running for five years. Beam Chain will improve aspects such as block generation, staking mechanisms, and cryptographic consensus to maintain high security and enhance performance. Beam Chain is expected to set specifications by 2025, start coding and testing in 2026, and then consider deploying the mainnet.
Speech video:
https://app.devcon.org/schedule/8GH8TR
5. The permanent storage network Arweave released its 2.8 protocol upgrade, introducing a new packaging format (Composite Packing) that improves network efficiency, scalability, and energy efficiency. The technical highlights of Arweave 2.8 include:
Allow miners to use slower storage devices while maintaining network performance, significantly reducing hardware requirements for node operators;
Further enhance the security of the network by implementing enhanced anti-ASIC measures;
Optimize the blockchain synchronization process to reduce the time required for full nodes to synchronize.
Learn more:
https://x.com/perma_daoCN/status/1851523919196631258
6. According to The Block, Ethereum's second-layer network Lisk has launched on the mainnet and announced an airdrop plan.
The airdrop event will start on November 21, with the first season lasting four months. Lisk originally launched in 2016 as a Layer 1 blockchain and transitioned to Ethereum's Layer 2 in December 2023, shifting towards RWA and a decentralized physical infrastructure network. Lisk is based on Optimism's Layer 2 development framework OP Stack and Gelato's aggregation as a service platform, while migrating its native token LSK to Ethereum.
Learn more:
https://x.com/TheBlock__/status/1856260677632942144
7. Ethereum Layer 2 network Starknet officially announced that it will launch STRK token staking functionality on the mainnet on November 26.
This feature has been extensively tested on the Sepolia testnet and is about to enter the first phase of deployment.
According to the official announcement, there are two ways to participate in staking: to become a validator, you must stake at least 20,000 STRK and run a full node; to become a delegator, you only need to hold STRK tokens and choose from the available validator list. Both validators and delegators will have a 21-day lock-up period for unstaking.
Learn more:
https://x.com/Starknet/status/1856213343528464458
8. On November 11, during the FIL Bangkok main stage event hosted by the Filecoin Foundation, various teams in the Filecoin ecosystem announced new data storage solutions, marking the expansion of Filecoin's capabilities and the opening of a new era. The newly launched Akave and Storacha are entirely new Filecoin Layer 2 (L2) solutions, representing a significant step towards maturity for the network, enhancing its ability to meet the storage needs of more data customers.
9. Conflux Foundation announced the launch of an incentive program to promote the development of the PayFi ecosystem on Conflux.
10. Algorand blockchain recently announced that it will launch a staking reward program in December after upgrading its consensus mechanism. At that time, block rewards will start to be paid in real-time to the validators who successfully propose blocks to this L1 blockchain. Rewards will start at 10 ALGO per block and decrease by 1% every 1 million blocks. Validators will also receive 50% of the transaction fees for the blocks they successfully propose.
11. Near Protocol launched a new alpha cross-chain AI agent that allows users to exchange any asset for any other asset by simply signing a transaction.
12. CertiK released a statement on X indicating that it has recently received a large number of requests for help from users of the DEXX platform, who reported that their account assets had been emptied. CertiK confirmed that this security incident occurred on the Solana chain, which is not within CertiK's audit coverage. CertiK stated that the main reason for the incident was improper management of private keys on the DEXX platform, leading to the leakage of official private keys. The scale of confirmed stolen funds has reached over 100 million, and the hacker is still actively committing crimes.
13. Dune launched a new dashboard that can quantify the extent of cryptocurrency-related cybercrime, recording over 5,500 hacking, vulnerability, and phishing scam incidents across the blockchain ecosystem. It is said that the platform's 'Hacks, Exploits and Social Engineering Dashboard' is one of the most comprehensive measures to quantify cryptocurrency crime to date.
Data Trends
L2BEAT data (as of November 21, 2024):
Learn more:
https://l2beat.com/scaling/tvl
2. After Trump's return to the White House, the total value of Tether surged nearly 6% since November 6, reaching over $127 billion. USDC also grew by about 4%, approaching $37 billion. Memes also showed significant growth.
3. According to data disclosed by Cointelegraph on the X platform, as the cryptocurrency market rises, NFT weekly sales volume increased by 94%, with Ethereum, BTC, and Solana being the top three blockchains in NFT sales volume.
4. According to Token Unlocks data, this week, tokens such as ROSE, ADA, and ENA will experience a large one-time unlocking, totaling to release over $30 million in value.
In-depth content interpretation
Foresight News Interview: Vitalik, 42 days in Chiang Mai
In Foresight News' interview with Vitalik, he shared his latest thoughts on Web3 applications and his observations on Chinese culture. In this experimental 'flash city' that gathered over 1,000 blockchain practitioners, Vitalik interacted with the community daily, engaging in in-depth discussions on the future of Ethereum applications. With the maturity of Ethereum technology (such as significantly reduced L2 transaction fees), blockchain applications are ushering in a new explosion of opportunities. He emphasized that low transaction fees and fast confirmations are the core drivers for the development of non-financial applications (such as Polymarket and Farcaster). He highlighted Ethereum's decentralization advantages and explored how to address the insufficient interoperability of the L2 ecosystem through community support and standardization. He believes that future work will focus on optimizing the mechanisms of public goods and the sustainable development of Web3 applications through experimentation and iteration. On a personal level, Vitalik expressed his love for Chinese culture, such as (The Three-Body Problem).
Read the original:
https://foresightnews.pro/article/detail/71510
Analysis of Beam Chain
Justin Drake proposed Beam Chain at the Devcon conference, and @yuexiaoyu111 wrote a Chinese analysis article on it. Beam Chain is not an independent public chain but an underlying design optimization aimed at improving performance, featuring faster block confirmations, lower staking thresholds, the introduction of zero-knowledge proofs (ZKP), quantum-safe design, and consensus mechanism improvements. According to the plan, Beam Chain will be advanced in six phases and is currently in the proposal and discussion stage, expected to launch around 2030. As an important part of Ethereum's long-term planning, Beam Chain aims not only to improve L1's efficiency, security, and decentralization level but also to promote the development of application chains in specific areas such as payments, gaming, and DeFi. However, its realization still needs to overcome multiple challenges such as technical compatibility, community consensus, and economic model adjustments.
Read the original:
https://x.com/yuexiaoyu111/status/1856714021275373599
Justin Drake's speech video at Devcon:
https://app.devcon.org/schedule/8GH8TR
Alt-L1's Lisk migration to OP Stack mainnet launch
Lisk user mainnet officially launched, becoming the first Layer 1 blockchain fully integrated into the Optimism Superchain. Based on Optimism's Layer 2 development framework OP Stack and Gelato's Rollup as a Service (RaaS), Lisk provides efficient development tools, achieving high scalability, low cost, and seamless cross-chain interaction, helping developers build applications with real value. Through deep collaboration with partners such as Circle, Rarible, and LayerZero, Lisk continuously improves its ecological layout and promotes technological innovation. This mainnet launch marks a new stage for Lisk, which will provide stronger and more comprehensive support for users and developers through dApp incentive programs and more ecological collaborations.
Read the original:
https://lisk.com/blog/posts/lisk-user-mainnet-is-live/
ERC-4337 Shared Memory Pool officially launched on Ethereum mainnet, Arbitrum, and OP
ERC-4337 Shared Memory Pool officially launched on Ethereum mainnet, Arbitrum, and Optimism, marking an important step towards decentralized Account Abstraction. The shared memory pool shares user operations (UserOps) among bundlers through a peer-to-peer network, enhancing network reliability and efficiency, avoiding single points of failure, and simplifying user experience. This feature will gradually expand to Polygon, adopting a 'training wheel' model for secure debugging, promoting the sustainability and scalability of the Ethereum ecosystem.
Read the original:
https://mirror.xyz/0x836F73BE367a8215FCab4C15E5012DaF574b9Ce4/F3CTe3nmBbm_X_Ee9hD2RyezBDueKnBZts1ZmUY8138
What is the necessity of Unichain? An initial exploration of Unichain
This research comes from IOSG Ventures, deeply analyzing the design philosophy and technical innovations of Unichain. Unichain is the OP Rollup launched by Uniswap, aiming to become the liquidity center in the superchain ecosystem, enhancing transaction experience through innovative technology. Its core includes the separation of block construction and ordering of Rollup Boost, privacy protection based on TEE and MEV redistribution mechanisms, Flashblock technology achieving 250ms rapid block time, and the introduction of the validation network (UVN) to enhance block finality. Meanwhile, the $UNI token is endowed with staking and validation functions, further promoting network participation and incentive distribution. Unichain is built on OP Stack, emphasizing low-latency interoperability and protecting LP and user interests through fair MEV distribution. Although attracting assets to migrate to the new chain remains challenging, with its rapid performance, fairness, and interoperability, Unichain is expected to become an important center in the DeFi ecosystem.
Read the original:
https://medium.com/iosg-ventures/a-first-look-at-unichain-930c2e61b7de
Chinese translation:
https://news.marsbit.co/20241112164719410560.html
Introducing Kailua: Upgrading OP Rollup to Hybrid ZK Rollup
Kailua is a hybrid architecture tool based on OP Stack, providing 'low-cost' and 'fast settlement' advantages for OP chains, creating a third solution between OP Rollup and ZK Rollup. Compared to the 7-day finality of traditional OP Rollup and the high proof costs of ZK Rollup, Kailua achieves finality in about 1 hour, only triggering zero-knowledge proofs in case of disputes, while significantly reducing collateral requirements and operating costs. Kailua is fully compatible with OP Stack, supporting flexible verification frequencies, transitioning from occasional validity proofs to full verification per block, allowing developers to enhance Rollup performance and security at their own pace.
Read the original:
https://risczero.com/blog/kailua-how-it-works
The above is all the content of this issue of the Ethereum Chinese Weekly, thank you for your reading!
Next Monday at 14:00 (UTC + 8), don’t miss the new issue sharing with you! (Joining method at the end)
Image source: Internet, please delete if infringing.
Jointly initiated community
Support the community
LXDAO is a research DAO focused on sustainably supporting valuable Web3 public goods and open-source projects.
Join us
