Crypto && Espresso 147 – Ciphertrace

Crypto && Espresso 147

Expertise Recap:


  • Core builders started a working group across the cluster mempool proposal. This proposal goals to make it simpler to function on the mempool whereas respecting the required ordering of transactions. On this design, clusters of a number of associated transactions will be break up into fee-rate sorted chunks. Any chunk can thus be included in a block so long as all earlier greater fee-rate unconfirmed chunks are included earlier in the identical block.

  • David Perkins of Ren Protocol publishes an article on A Framework for Utility-Particular Bitcoin Bridges.


  • Vitalik Buterin shares an article on easy methods to Make Ethereum Cypherpunk Again.

  • On December thirtieth, 2023, Vitalik shared an up to date roadmap for Ethereum.

  • Ethereum researchers publish an article on the trail in direction of scaling the Ethereum Knowledge Availability layer publish EIP-4844. With this, they envision scaling to 32/64 blobs which is 10x EIP-4844.

  • Christine Kim of Galaxy provides insights into the final All Core Devs Execution Name of 2023 with deal with: Dencun updates for testnets, precompile address ranges, and the Prague/Electra improve slated earlier than the tip of 2024.

Different Chains:

  • Parallel Community is introduced! Parallel is the primary omni-chain layer-2 powered by Arbitrum. This platform unifies liquidity from any chain right into a single account.

  • Haptic Finance, a trustless protocol for choices on Optimism, is now available for early entry. The protocol combines automated liquidity administration (ALM) vaults with always-on choice markets.

  • ERC-7412 is introduced which permits good contract engineers to include off-chain information by calling capabilities on oracle contracts. The performance makes use of Synthetix Multicall3 implementation that acts as a forwarder through ERC-2771.

  • Mantle provides insights into how liquid staked tokens (LSTs) have created a brand new sector of DeFi which individuals are actually naming LSDFi.

  • Helium shares insights into transitioning Solidity programming from Ethereum to Solana.

  • Amongst the 70+ chains within the Cosmos ecosystem, Sommelier has emerged as the most important gainer by way of YoY proportion TVL development. They’ve soared from $1M to ~$61M as of December twenty seventh, 2023.

  • GrowThePie shares that there have been ~900M transactions on layer-2 networks in 2023. 274M on Arbitrum, 218M on zkSync, 127M on Optimism, and 93M on Immutable.

  • StarkWare shares a 12 months-in-Evaluation with deal with their layer-2 community and open-sourced components akin to Stone Prover, Starknet Sequencer, and Papyrus full nodes.

Hacks | Vulnerabilities | Exploits:

  • On December twentieth, 2023, Transit Finance was exploited for ~$110K on BSC resulting from a operate vulnerability which passed defective enter validation.

  • On December twenty second, 2023, Pine Protocol was exploited for ~$90K on Ethereum resulting from having each the outdated model and new model of their smart contracts sharing the identical handle. This shared pool handle between the 2 contracts resulted within the execution of fund transfers originating from the identical handle for various swimming pools.

  • On December thirty first, 2023, Orbit Chain was exploited for ~$81.6M on Ethereum resulting from inadequate entry rights and the misuse of legitimate signatures. The handle drained Orbit’s vaults of Ether, USDT, USDC, DAI, and WBTC.

Mainstream Recap:

  • There are 11 spot Bitcoin ETF filers (Grayscale, ARK, iShares, Bitwise, VanEck, WisdomTree, Invesco Galaxy, Sensible Origin, Valkyrie, Hashdex, and Franklin) which are being watched intently that are aiming for a possible approval between January eighth and tenth, 2024.

  • CoinCenter shares that there are new crypto tax reporting obligations that took impact on January 1st, 2024 for individuals who obtain $10K or extra in crypto.

  • Alex Pruden, the CEO of Aleo Programs Inc., has stepped down from his place and transitioned into the function of Govt Director of the Aleo Basis.

  • Jesse Pollak of Coinbase’s Base community shares thoughts on how there may be perception that the majority new customers within the area will merely on-board straight through layer-2 networks.

This Week’s Cup of Espresso:

This week, we’re headed to San Francisco, CA for a cup of Ethiopian – Burn Farmers Group from Sightglass Espresso. This Ethiopian roast yields mild flavors of strawberry and stone fruit with refined undertones of cocoa and caramel. I’d counsel brewing this one through pour-over for the highest quality! Sip up and luxuriate in!!

Author: CipherTrace Engineering
Date: 2024-01-03 13:23:48

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Alina A, Toronto
Alina A, Toronto
Alina A, an UofT graduate & Google Certified Cyber Security analyst, currently based in Toronto, Canada. She is passionate for Research and to write about Cyber-security related issues, trends and concerns in an emerging digital world.


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